The 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.
Learn moreDespite several months of stalled negotiations, the long-awaited, much debated second COVID-19 stimulus package has been finalized.
Learn moreOn December 22, 2020, the Office of Management and Budget (OMB) released the 2020 OMB Supplement Addendum to address the largest new federal programs established by the Coronavirus Aid, Relief, and Economic Security (CARES) Act.
Learn moreThe 2020 election has left the future of tax policy uncertain. While Democrats maintained a slim majority in the House of Representatives, the final composition of the Senate will not be decided until two runoff elections are held in Georgia in January of 2021.
Learn moreAs if 2020 hasn’t brought enough changes, the Internal Revenue Service has also provided a change to the 1099-MISC form.
Learn moreThe application deadline for Phase 3 Provider Relief is November 6, 2020.
Learn moreThe IRS and Treasury have finalized regulations implementing amendments made by the Tax Cuts and Jobs Act (TCJA) to business related meals and entertainment deductions.
Learn morePrior to October 2, 2020, it was presumed that any entity contemplating a change in control that had received Paycheck Protection Program (PPP) funds would be required to obtain approval for the transaction from the SBA prior to sale.
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