Foreign Currency Guidance Deferred Again
The IRS recently announced that it intends to defer again, by one additional year, the applicability dates of 2016 foreign currency final regulations and related 2019 final regs.
PKF Worldwide Tax Guide for 2022/23
The latest edition of the PKF Worldwide Tax Guide for 2022/23 is now available for download. This annual publication provides […]
PKF O’Connor Davies Welcomes Thomas Manisero as General Counsel and Chief Legal Officer
PKF O’Connor Davies, LLP, one of the nation’s largest accounting, tax and advisory firms, today announced that it has appointed Thomas Manisero as General Counsel and Chief Legal Officer.
ASU 2016-02 and Considerations for Grantmakers
The Financial Accounting Standards Board (FASB) initially issued Accounting Standards Update (ASU) No. 2016-02 on Leases (Topic 842) over six years ago in an effort to increase transparency and bring consistency in the treatment of operating and finance leases.
A Q&A on the Electric Vehicle Tax Credit
The Inflation Reduction Act of 2022 (the Act), recently signed by the President, includes changes to the Plug-in Electric Vehicle Tax Credit (now known as the Clean Vehicle Credit).
Cyber Roundup – August 2022
A published software security flaw, glitch, or weakness found in software will likely be exploited by bad actors within a short time after the vulnerability is discovered and announced.
Who Actually Qualifies for the Employee Retention Credit?
The Employee Retention Credit (ERC) started out as something of a secret. Originally part of the CARES Act, the ERC was limited in 2020 and only available to organizations which did not receive Paycheck Protection Program (PPP) loans.
Senate Passes Inflation Reduction Act of 2022
The version passed by the Senate is similar to the prior draft version, although with key changes on the tax side.
Major Win for NY Statutory Residents Brings Potential Refund Opportunities
A rare unanimous New York Supreme Court Appellate Division decision has resulted in potential personal income tax refund opportunities to those domiciled outside of New York but who have vacation homes in the State.
Step by Step: Grant Management
Many local governments receive grants which can be a significant portion of their funding sources.
What’s In (and What’s Out) – The New Senate Reconciliation Bill
This week, the Senate released draft legislative language on a reconciliation bill apparently agreed to by Senate Majority Leader Chuck Schumer and West Virginia Senator Joe Manchin, whose objections had been one of the main stumbling blocks to prior legislative plans proposed by the Biden administration and other members of Congress.
A Jump-Start on Year-End Tax Planning
As the 3rd quarter of 2022 commences, tax planning and year-ending strategies may be best to be considered now.