FASB provides goodwill impairment triggering event alternative
The FASB has issued ASU 2021-03, which provides a new goodwill impairment alternative for private companies and not-for-profits.
The IRS provides further guidance on the Employee Retention Tax Credit
The Relief Act made changes on how the Employee Retention Tax Credit works during the first two quarters of 2021.
IT risk management for nonprofits: Securing your technology and data
Nonprofit organizations must understand how to implement strategies to protect technology and information assets.
Senate passes extension of Paycheck Protection Program to May 31
PPP extension clears Senate. Program to be extended to May 31, with 30 days provided after May 31 for SBA to process pending applications.
Accounting considerations for PPP loans and Employee Retention Credit
Our white papers have been updated with more information regarding the accounting for PPP loans and the Employee Retention Credit.
American Rescue Plan Act provisions affecting exempt organizations
The American Rescue Plan Act of 2021 extends and expands support for exempt organizations affected by the coronavirus pandemic.
9 important tax topics for individuals and business owners in 2021
Managing significant tax changes will ensure individuals and businesses are positioned for success for the remainder of 2021 and beyond.
President Biden signs American Rescue Plan Act of 2021
$1.9 trillion COVID-19 relief plan with broad individual relief and new coronavirus-related funding enacted into law.
Pennsylvania issues COVID home-office expense deduction guidance
The Pennsylvania Department of Revenue has issued complex guidance for employees claiming home office expense during the pandemic.
Connecticut provides retroactive 2020 COVID relief
Governor Ned Lamont has signed legislation retroactively providing COVID-related business nexus and personal income tax relief for 2020.