Articles
Rhode Island Rebounds Small Business Grant Program
Rhode Island Rebounds was created by the state to assist small business owners through the utilization of the American Rescue Plan State Fiscal Recovery Funds, a way to give back to those in need.
Need Additional COVID Relief? Check Out These Links…
For small businesses located in New York and New Jersey, there are still some pandemic funds available under certain conditions.
ACE Act Update – Companion Bill Introduced in the House
There has been radio silence from Washington on the Accelerating Charitable Efforts (ACE) Act since it was introduced in the Senate in June 2021, but it has now gained traction.
Winter 2022 – Employee Benefits Alert
The Internal Revenue Service (IRS) issued an information letter to provide guidance regarding the taxation of a cash refund of any unused transportation benefit.
Provider Relief Fund Reporting Reminder
The Provider Relief Fund (PRF) portal is open for reporting PRF payments received by entities from July 1, 2020 to December 31, 2020 (Period 2).
The 2022 New York State Pass-Through Entity Tax Election
The New York State Department of Taxation and Finance (Taxation) issued Technical Memorandum TSB-M-21(1)C, (1)I (TSB-M) August 25, 2021.
Audit Threshold Changed for New Jersey Not-for-Profits
Governor Murphy recently signed legislation which revises the threshold of total gross revenue received by a New Jersey not-for-profit organization
2021 Available Federal Tax Credits and Deductions
Throughout the pandemic, Congress introduced several stimulus packages to help taxpayers and relieve some of the economic burden caused by the coronavirus, many of which were still applicable in 2021.
2021 M&A Recap – and a Look Ahead
The M&A market just finished a record setting year. Compared to 2020, both the number of deals and deal value were up significantly. This robust growth was across all deal sizes but was especially pronounced for deals over $1 billion.
Refresher on Expenditure Responsibility and Equivalency Determination
As many in the private foundation community know, private foundations are allowed to distribute grants to organizations other than public charities ‒ such as foreign entities, for-profit entities, individuals, and other private foundations ‒ on condition that the disbursements are strictly for charitable purposes and certain steps are taken.
Accounting Treatment of Intermittent Casualty Losses for a Low-Income Tax Credit Property
In the aftermath of a disaster like a flood, fire or other casualty there can be a lot of confusion when dealing with the insurance company on whether or not the loss is covered.
Maryland Announces Filing Date Extension for 2021 Individual Income Taxes
The Maryland comptroller announced a three-month filing and payment extension for 2021 Maryland individual income taxes.