After much delay and waiting on the part of Providers who received funding, on June 11, 2021, the department of Health and Human Services (HHS) released updated reporting requirements, and related deadlines, for recipients of Provider Relief Fund (PRF) payments.
Learn moreThis RubinBrown Focus on Lease Accounting is the first in a series of articles on the new accounting guidance for leases. In this series, we will explore different aspects of the new standard. Please contact a member of your RubinBrown team for more information and ways that we may be able to help you.
Learn morePresident Biden recently released his administration’s FY2022 budget request, which formalizes its legislative agenda for the fiscal year.
Learn moreThe biggest change in auditing standards since 2012 will soon bring an entirely new look to the report letter that accompanies audited financial statements.
Learn moreOn April 29, 2021, California Governor Gavin Newsom signed California Assembly Bill 80 (“A.B. 80”), which largely conforms to federal rules regarding deductibility of expenses paid with funds from forgiven Paycheck Protection Program (“PPP”) loans.
Learn moreWhile the first COVID-related legislation was enacted over a year ago, resulting programs are still ongoing or just getting started. Below is the latest on relief programs available for businesses impacted by the pandemic:
Learn moreA significant change for HEERF II funds compared to the HEERF I funds is that lost revenues are now specifically considered to be allowable costs.
Learn moreThe IRS issued Notice 2021-21 to provide additional guidance on the postponement of the federal April 15 tax deadline to May 17, 2021 for individuals.
Learn moreOn March 19, 2021, the Office of Management and Budget (OMB) issued Memo M-20-21, which was addressed to federal agencies. The memo contains several items, but perhaps the most important is a single audit submission extension discussed below.
Learn moreFor a second straight year, the Internal Revenue Service has delayed the April 15 tax filing deadline.
Learn moreThe Shuttered Venue Operators (SVO) grant program is slated to open April 8th after having a slow start since first established as part of the Consolidated Appropriations Act in December of 2020.
Learn moreOn March 11, 2021, President Biden signed the American Rescue Plan Act (ARPA) into law. The $1.9T stimulus package passed Congress largely along party lines, with one Democrat voting in opposition.
Learn moreThe recent announcement of multiple threats to on premise Microsoft Exchange 2013-2019 Servers highlights the need for constant vigilance for internet accessible systems and applications.
Learn moreNotice 2021-20 provides much needed guidance on the 2020 Employee Retention Credit (ERC), including a definition of the word “nominal” as it is used in in determining whether a business has sustained a partial shutdown.
Learn moreAs reported in the tentative decisions from its February 10, 2021 meeting, the FASB recently voted to provide private companies and not-for-profit entities with the option to perform the identification and evaluation of a triggering event for goodwill impairment at the reporting date.
Learn moreThe recent intrusion of high profile government systems via the SolarWinds Orion vulnerability has gained quite a bit of media attention and is likely to dominate the cyber security news cycle for the foreseeable future.
Learn moreLive venue operators impacted by the pandemic may find significant help in the form of a new grant made available by the December COVID-19 stimulus package.
Learn moreYou might be thinking that if your organization is not a live venue or you didn’t have a significant decrease in gross receipts in 2020 vs. 2019, then the 2021 Consolidated Appropriations Act (CAA) doesn’t have a lot to offer your organization.
Learn moreThe recently enacted Consolidated Appropriations Act, 2021 (CAA) has given new life to the Employee Retention Credit (ERC) initially made available by the Coronavirus Aid, Relief, and Economic Stimulus (CARES) Act.
Learn morePursuant to recent COVID-19 relief legislation, the SBA announced that the Paycheck Protection Program (PPP) will reopen beginning on Monday, January 11. To give underserved and minority business owners a first chance at the $284B, community financial institutions will be the only lenders able to make First Draw PPP loans on Monday.
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