Tax Compliance & Planning – Blog

Financial statement preparers should consider the impact of new tax laws and regulations on income tax calculations and disclosures in their 2022 financial statements.

The Tax Court held that section 179D does not require a subjective intent to meet energy savings targets.

A New York administrative law judge found an owner to be a responsible person and personally liable for unpaid sales and use taxes.

State conformity to section 174 and potential congressional action require taxpayers to plan ahead and stay flexible as compliance season approaches.

With the ASC 842 lease accounting deadline approaching quickly for private companies, organizations must act now to implement an effective solution.

State digital asset tax policy progressed in 2022 and could make further strides in 2023, despite decreased enthusiasm for certain digital assets.

New standards affirmed for energy efficient commercial buildings deductions, but old standards apply for several more years.

SECURE 2.0 Act significantly changes the tax rules governing qualified retirement plans and individual retirement accounts (IRAs).

IRS 2023 annual revenue procedures have limited changes affecting exempt organizations.

Businesses must contend with several unfavorable tax changes after no significant business tax provisions appeared in a year-end omnibus package.

The Financial Accounting Standards Board recently issued a proposed Accounting Standards Update for Leases (Topic 842). The update addresses related-party arrangements between entities under common control. This video provides an overview of the proposed changes.

With middle market companies focusing on employee retention, a new RSM survey details how workers currently feel and what they want in the workplace.

Employment and income tax withholding rules for equity compensation

Pass-through entities and partners alike should understand the compliance changes associated with the IRS’s recent release of updated draft Schedules K-2 and K-3.

As we close the books on 2022, RSM’s real estate senior analyst Scott Helberg shares 10 important year-end resolutions for real estate investors to consider

The FASB and IASB have provided standards for properly recognizing revenue in your financials. Using a five step process, companies recognize revenue based on the value and timing of when control of the goods and services are transferred to the customer. Learn about the standards and how to properly recognize revenue for your company.

Tax planning considerations for businesses and individuals approaching the end of 2022.

On Oct. 19, 2022 the IRS issued a news release warning employers to be wary of third parties who have ramped up campaigns to try and get employers to claim the CARES Act Employee Retention Tax Credit (ERTC) when they may not actually qualify.

DOL has issued an interpretive bulletin updating independence requirements for audits of employee benefit plans.

IRS releases inflation adjustments for 2023. Inflation adjustments impact individual tax brackets and other various provisions of the Code.

IRS Rev. Proc. 2022-19 provides S corporations with simplified procedures to resolve common issues without a private letter ruling.

As attack methods become more sophisticated and widespread, no organization is immune to suffering a cybersecurity breach. The key to protecting your business is developing controls to make you less of a target and limit potential damage, as well as implementing a comprehensive strategy to react if you fall victim to an attack.

The FASB recently voted to issue proposals on the determination of an arrangement as a lease and the financial reporting requirements for related party lease arrangements for certain entities.

IRS R&D credit refund claim transition period extended one year.

A summary of important state and local income tax updates enacted during the quarter ending Sept. 30, 2022, which may impact the computation of current and deferred tax provisions under ASC 740.

The actions taken throughout the life cycle of a real estate investment determine whether specific real estate is held for investment or held as dealer property.

IRS releases a set of technical corrections (2022-15867 and 2022-15868) to calm taxpayer concerns regarding the final FTC regulations.

When establishing a retirement plan, be sure to avoid common missteps when setting up your company’s retirement plan.

President Biden announced a plan to extend the pause on student loan repayments and offer student loan forgiveness to millions of borrowers. Under the Student Loan Debt Relief Plan, eligible borrowers will have up to $20,000 of their student loans forgiven. Watch this video to learn more about the program.

Wealth preservation issues and strategies for multigenerational wealth; how to prioritize grantor intent for future generations while minimizing taxes and reducing conflict.