…delay on the required implementation dates of the new lease and revenue recognition standards for certain entities. Proposal to delay implementation of three significant new accounting standards In their July…
…You Aware of the Historic Rehabilitation Tax Credit? High Level Look at Disclosures Required for Revenue Recognition “How Tax Reform May Impact the Construction Industry and How to Plan for…
SEC Custody Rule’s No-Action Letter Provides Some Relief to Registered Investment Advisors (RIAs) The SEC has issued a no-action letter providing relief from some investment advisors’ requirement to receive a…
…one-year delay on the required implementation dates of the new lease and revenue recognition standards for certain entities. What are the Financial Statement Presentation and Disclosure Requirements of the Lessee…
…accounting and private industry. Specialties include: GAAP financial statement audits and financial reporting Revenue recognition (ASC 606) and stock-based compensation accounting (ASC 718) Business combinations, debt and equity instruments, and…
…the Affordable Care Act, and increases funding for the Internal Revenue Service. The Disaster Act extends over 30 expired tax provisions through 2020. Individual Tax Provisions Extended by the Act…
…have a filing requirement if they meet the $500,000 threshold. While the regulation did not include an effective date for the change, we understand that the Massachusetts Department of Revenue…
…all matters pertaining to the interpretation, administration and enforcement of the Internal Revenue Laws, recently provided interpretive advice to taxpayers on two issues related to cryptocurrencies. 1. IRC Section 165…
New partnership and S corporation taxpayer forms create havoc and confusion In 2021, the Internal Revenue Service (IRS) issued new schedules K-2 and K-3 for 2021 partnership and S corporation…
Three IRS rules impacting Forms W-2 The Internal Revenue Service (IRS) is reminding businesses that changes under the SECURE 2.0 Act may affect reporting amounts on Forms W-2 beginning tax…
…for the first time, the Internal Revenue Service (IRS) is adding QR technology to notices sent to millions of taxpayers. Notices CP14 and CP14 IA, which inform taxpayers that they…