News and Insights

Notice 2021-56 proposes section 501(c)(3) exemption standards for LLCs

Notice 2021-56 proposes section 501(c)(3) exemption standards for LLCs

The IRS recently announced new requirements for LLCs to qualify as exempt organizations under section 501(c)(3).
Internal audit challenges

Internal audit challenges

Internal audit challenges are increasing for CAEs. Elevate to meet your resource, regulatory, and technology and data challenges.
IRS continues Research Credit Refund Fight

IRS continues Research Credit Refund Fight

IRS provides guidance about specificity requirement for filing refund claims for IRC section 41 research credit.
House proposed changes – What should wealthy individuals consider?

House proposed changes – What should wealthy individuals consider?

What are the proposed tax changes affecting individual taxpayers and what should you consider today to limit your exposure to these changes?
Performing a 401(k) retirement plan self-checkup

Performing a 401(k) retirement plan self-checkup

When an employer sponsors a retirement plan for its employees, it must carefully consider, and continually monitor, the plan provisions.
House Ways and Means releases reconciliation tax payfors

House Ways and Means releases reconciliation tax payfors

House Ways and Means issues its discussion draft amendment with revenue items to offset $3.5 trillion spending package.
Boom times in private equity

Boom times in private equity

Private equity deal activity is on pace for its best year on record, and deal activity in the middle market leads the way.
The IRS takes aim at high net worth individuals

The IRS takes aim at high net worth individuals

A discussion on the IRS concern with non-filers and what can be done to mitigate the risk is provided in this article.
IRS issues employee retention credit gross receipt exclusion procedure

IRS issues employee retention credit gross receipt exclusion procedure

Rev. Proc. 2021-33 allows exclusion of PPP, restaurant revitalization and shuttered venue operator grants from ERTC gross receipts test.
IRS enhances employee retention credit guidance for open questions

IRS enhances employee retention credit guidance for open questions

Notice 2021-49 provides answers on previously uncertain issues and addresses changes implemented in the American Rescue Plan Act.
Paid leave for employees impacted by COVID-19 in 2021

Paid leave for employees impacted by COVID-19 in 2021

Some employers can give paid leave to employees impacted by COVID in 2021 and claim a payroll tax credit per the American Rescue Plan Act.
SBA formally withdraws loan necessity questionnaire

SBA formally withdraws loan necessity questionnaire

Small Business Administration, in light of lawsuit, notifies PPP lenders that loan necessity questionnaire is withdrawn.
Arizona enacts significant individual income tax reductions

Arizona enacts significant individual income tax reductions

The changes reduce the number of brackets, provide for future rate reductions and establish a rate cap for high-earners.
Child Tax Credits

Child Tax Credits

As you may have heard there have been some changes to the Child Tax Credits for the 2021 tax year. In this article, we outline the changes important to you and your family.
IRS extends relief for leave-based donation programs

IRS extends relief for leave-based donation programs

Notice 2021-42 provides guidance for cash payments from foregone vacation, sick or personal leave made by employers to charities.
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