Underlying the current world events is an ongoing campaign of cyber attacks. The mix of nation-state or criminal activity is debatable, but the attacks are ongoing and increasing in intensity.
Learn moreInternational tax information reporting for 2021 brings the addition of two new schedules for passthrough entity tax returns: Schedules K-2 and K-3. Filing requirements may impact domestic partnerships and S corporations with no apparent items of international tax relevance, however, the IRS has provided filing relief for tax years beginning in 2021.
Learn moreOn October 15, 2021 the IRS released a Chief Counsel Memorandum (CCM) detailing the information taxpayers will be required to include when filing a research tax credit refund claim on an amended tax return
Learn moreOn December 3, 2021, the Office of Management and Budget (OMB) released the first of two 2021 Compliance Supplement Addenda (2021 Addendum 1).
Learn moreThe bipartisan Infrastructure Investment and Jobs Act (IIJA) containing $550 billion in new funding for the nation’s traditional infrastructure and broadband was signed into law by President Biden on November 15, 2021. The bill doesn’t have nearly the breadth of tax provisions that the “Build Back Better” bill is proposing, but it does contain a few noteworthy changes. Particularly of interest, it ends the Employee Retention Credit (ERC) one quarter early for many employers.
Learn moreAs previously communicated, healthcare providers who received more than $10,000 of Provider Relief Fund (PRF) payments from the department of Health and Human Services (HHS) on or before June 30, 2020, are required to report on their use of the funds by September 30, 2021.
Learn moreThis is to serve as a reminder and update on previous communications regarding the Provider Relief Fund.
Learn moreLong-awaited additional guidance on the Employee Retention Credit (ERC) was recently provided in Notice 2021-49 covering changes to the credit for quarters three and four of 2021, as well as general guidance for all quarters on a few gray areas.
Learn moreThis RubinBrown Focus on Lease Accounting is the fourth in a series of articles on the new accounting guidance for leases, Accounting Standards Codification Topic 842, Leases (ASC 842). 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 moreOn July 13, 2021, the Department of Education (ED) published a Dear Colleague Letter (GEN-21-05) changing the verification requirements for the 2021-2022 FAFSA processing and verification cycle, including eliminating the requirement for “V1” verification requirements by all higher education institutions.
Learn moreThis RubinBrown Focus on Lease Accounting is the third in a series of articles on the new accounting guidance for leases, Accounting Standards Codification Topic 842, Leases (ASC 842).
Learn moreOn June 23, 2021, the Department of Education posted a proposed new data collection form for HEERF I, II and III.
Learn moreThis RubinBrown Focus on Lease Accounting is the second in a series of articles on the new accounting guidance for leases, Accounting Standards Codification Topic 842, Leases (ASC 842). 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 moreAfter 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.
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