Insights Center: 2025 Tax & Legislative Changes
Individuals, businesses and not-for-profit organizations are all affected by the new tax law – and we are ready to help. Start by staying informed; you’ll find our analyses of the new law’s many provisions here.
The Internal Revenue Service (IRS) issued on September 3, 2021 Revenue Procedure 2021-40 (2021-40), which stated that the IRS will place a temporary halt on issuing letter rulings or determination letters in relation to whether certain transactions are self-dealing within the meaning of Section 4941(d) of the Internal Revenue Code (the Code).
The IRS issued Revenue Ruling 71-1447 in 1971, which stated that racial discrimination in education is contrary to public policy.
While analyzing critical issues to explore in each issue of Cyber Roundup and working with our clients on their cyber challenges, I am continually astonished at the schemes bad actors conceive of to disrupt business, the economy and people’s everyday activities.
International activities conducted by tax-exempt organizations have been a high-focus area for decades.
The IRS announced that victims of Hurricane Ida will have until January 3, 2022 to file various individual and business tax returns and make tax payments.
The Securities and Exchange Commission (SEC) recently approved new listing rules that will require Nasdaq-listed companies with six or more directors to have, or explain why they do not have, at least two diverse directors.
When the rules first came out, it was one or the other – Paycheck Protection Program (PPP) or Employee Retention Credit (ERC).
North American M&A deal activity remained strong in Q2 of 2021, following a strong first quarter in 2021 and a record breaking fourth quarter in 2020.
This week ‒ finally ‒ the New York State Department of Taxation and Finance (Tax Department) issued a Technical Services Memorandum, TSB-M-21(1)C,(1)l, addressing open issues regarding New York’s new pass-through entity tax (PTET).
Acts of self-dealing come in many forms, and it is vital that foundation managers and board members are mindful of the different types of self-dealing prohibitions and the potential consequences to the foundation and the individuals involved in the act.
The CARES Act Provider Relief Fund (PRF) reporting portal has been officially opened and the reporting deadline for any combined PRF funds exceeding $10,000 received within the first reporting period (see table below) is due by September 30, 2021.
The U.S. Treasury’s Reporting Requirements and Deadlines Report 1 of the American Rescue Plan Act of 2021 (ARP) for Coronavirus State and Local Fiscal Recovery Funds (SLFRF) is due August 31, 2021