News and Insights

IRS releases 2021 TE/GE program letter and compliance priority webpage

IRS releases 2021 TE/GE program letter and compliance priority webpage

The TE/GE division’s 2021 program letter contains a summary of its priorities for the fiscal year and a new compliance priority webpage.
SBA publishes loan necessity questionnaire for PPP borrowers

SBA publishes loan necessity questionnaire for PPP borrowers

Borrowers (and affiliates) that have PPP Loans of $2 million or greater should be prepared to provide additional information to SBA.
Borrower’s accounting for debt restructurings and modifications

Borrower’s accounting for debt restructurings and modifications

A recent FASB Staff Educational Paper provides an overview of the accounting guidance for common debt modifications and exchanges.
Top 5 missteps to endowment management under UPMIFA

Top 5 missteps to endowment management under UPMIFA

Are you managing your endowment funds under the current rules? See how you match up to these common issues in the application of UPMIFA.
RSM US Middle Market Business Index Reopening the Middle Market

RSM US Middle Market Business Index Reopening the Middle Market

RSM's special report provides insights into how executives consider government guidance, employee readiness, COVID-19 case numbers and more.
IRS releases 2021 retirement plan limitations

IRS releases 2021 retirement plan limitations

Many limitations, including the 401(k) elective deferral limit for employee contributions, remain unchanged from 2020 levels.
IRS simplifies partnership tax capital reporting rules

IRS simplifies partnership tax capital reporting rules

In lieu of an in depth analysis, partnerships may utilize one of three ‘snapshot’ methods to comply with tax capital reporting requirements.
2020 year end tax considerations for businesses

2020 year end tax considerations for businesses

Tax planning opportunities for consideration in light of COVID-19, the resulting economic crisis, and evolving tax laws and regulations.
2020 Election preview: Real estate

2020 Election preview: Real estate

With the election approaching, RSM is looking at the economic stakes and the key issues for various industries.
SBA releases procedural guidance for PPP loans in M&A transactions

SBA releases procedural guidance for PPP loans in M&A transactions

SBA procedural guidance provides answers on how to navigate PPP loan changes in ownership; deals can now move forward with certainty.
IRS issues final regulations on meals and entertainment deductions

IRS issues final regulations on meals and entertainment deductions

The final regulations issued by the IRS provide guidance for meal and entertainment deductions under section 274.
Treasury issues skinny guidance on employee payroll tax deferral

Treasury issues skinny guidance on employee payroll tax deferral

Following the President’s memo on August 8, Treasury releases very short Notice 2020-65 delaying the deadline for employee FICA tax.
More than a back office: Nonprofit finance and accounting outsourcing

More than a back office: Nonprofit finance and accounting outsourcing

Nonprofits leverage intangible benefits of finance and accounting outsourcing: reporting, forecasting, budgeting and audit support.