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After a precipitous decline in Q2 2020, mergers and acquisitions transactions in North America rose 84% from Q2 to Q4 2020 after experiencing a 38% decline in Q2 and a 22% decline in Q3.

On Saturday, February 27, 2021, the House of Representatives passed H.R. 1319, the American Rescue Plan Act of 2021 (ARPA). The bill provides, among a broad array of stimulus provisions, an extension of the employee retention credit through the end of 2021, as well as credits for paid family and sick leave for employees

Gov. Phil Murphy signed three bills into law on February 21, 2021 that will legalize marijuana in New Jersey (NJ). New Jersey will join Maine, Vermont, and Massachusetts on the East Coast to now legalize marijuana.

A recent court case, San Jose Wellness (2021) 156 T.C. No. 4, has emerged in the marijuana industry highlighting the proper allocation of costs and the deductibility or disallowance based upon the specific facts.

The 2021 Consolidated Appropriations Act included $900 billion in stimulus relief for the COVID-19 pandemic, including significant changes to the Employee Retention Credit. These changes will be beneficial to many nonprofit employers.

Many private foundations have increased and expedited their grant-making efforts as a result of the economic impact of the COVID-19 pandemic.

Plan sponsors typically engage a qualified actuary to provide actuarial services for defined benefit plans which they sponsor.

Nonprofit organizations formed as corporations should be aware of a favorable provision that provides for an increased deduction limit for disaster relief contributions.

Broker-dealers registered with the Securities and Exchange Commission (SEC) are generally required to file their audited financial report and either a compliance or exemption report within 60 days of the broker-dealer’s fiscal year-end.

Private clubs, like most businesses, are still being affected by government-related restrictions and shutdowns, and some private clubs, such as tax exempt 501(c)(7) clubs, are not able to take advantage of certain CARES Act relief provisions such as the Paycheck Protection Program (PPP) loans.

In light of the pandemic, companies that previously had no Federal Research and Development Tax Credit (Research Credit) opportunity may be eligible to capture the credit on their 2020 or 2021 returns.

Be wary. Be skeptical. Be proactive. Anything digitalized can be breached, information obtained, and criminal activity pursued.