…the President’s signature, which is expected soon. Key Provisions in COVID-19 Relief Package This legislation overrides the Internal Revenue Service’s position on taxability of Paycheck Protection Program loan forgiveness and…
…PRF payments for healthcare-related expenses or lost revenue due to COVID-19. The PRF is administered through the U.S. Department of Health and Human Services (HHS) under CFDA #93.498. In contrast…
…that evaluates the company’s sensitivity to changes in certain variables, such as revenue and gross margin decline, is a great way to document the above-referenced content in a quantitative way….
…tax credit components, overseen in partnership with the National Park Service (NPS), Virginia’s Department of Historic Resources (DHR), and the Internal Revenue Service (IRS). The Federal Historic Preservation Tax Incentives…
…the installation of qualifying property, the cost used to calculate the credit is generally reduced by the amount of such subsidy/ credit/ rebate. The Internal Revenue Service (IRS) has started…
…Internal Revenue Service (IRS) has put a temporary halt on new ERC claims processing since September 2023. If you’ve filed an ERC claim, consider reviewing it for accuracy to avoid…
By Keiter CPAs | Not-for-Profit Team Form 990 and Form 990-EZ Changes The IRS recently released Revenue Procedure 2018-38. This pronouncement modifies the information required to be reported to the…
…beyond connecting with the public about their mission and achievements. Organizations governed by 501(a), 501(c), and 501(d) of the Internal Revenue Code are required to provide the public with access…
…capital gains through 2026, Reduction of originally-realized capital gains, and Exclusion from income tax of appreciation of the Qualified Opportunity Zone Investment. The Internal Revenue Service recently issued IR 2022-79…
…of dollars and their personal information to tax scams and fake Internal Revenue Service (IRS) communication. Several of the top scams according to the IRS are: Fraudulent Filed Returns Tax-related…
…the audits that have been deemed to be more risky. Areas reviewed closely by the Board inspectors included: Auditor independence Revenue testing Assessment and response to material misstatement due to…
…day of the following month as a safe harbor, this is not the intent of the DOL. Likewise, the Internal Revenue Service states the following: “remember that the rules about…