Insights

Democrats release draft bill to overhaul U.S. international tax rules

Democrats release draft bill to overhaul U.S. international tax rules

Senate Finance Chairman Wyden unveils draft international tax reform bill that would overhaul GILTI, FDII and BEAT rules.
FINRA update: Financial and operational rules for broker-dealers

FINRA update: Financial and operational rules for broker-dealers

FINRA has released an update to the Interpretations of Financial and Operational Rules related to SEA Rules 15c3-1 and 15c3-3.
The state tax implications of telehealth

The state tax implications of telehealth

State and local tax implications of the explosive growth in telehealth arising from the global COVID-19 pandemic.
Security Summit warns of identity theft and unemployment fraud

Security Summit warns of identity theft and unemployment fraud

The Internal Revenue Service Security Summit discusses the common warning signs of identity theft and unemployment benefits theft.
Pandemic’s effect on workplace adds complexity to M&A valuations

Pandemic’s effect on workplace adds complexity to M&A valuations

Companies that have taken care of their workers, embraced technology and adjusted to a rapidly evolving marketplace have been rewarded.
Tax penalties on individuals without health insurance

Tax penalties on individuals without health insurance

Some states impose tax penalties on individuals without health insurance and reporting requirements on employers.
IRS issues procedural guidance for the new revenue recognition rules

IRS issues procedural guidance for the new revenue recognition rules

The IRS released guidance allowing automatic accounting method changes for taxpayers to follow the final revenue recognition regulations.
Markets Moved Higher Despite Peak Concerns

Markets Moved Higher Despite Peak Concerns

July was, on balance, a good month for investors. Many broad market indexes across equity and fixed income posted positive returns.
IRS issues employee retention credit gross receipt exclusion procedure

IRS issues employee retention credit gross receipt exclusion procedure

Rev. Proc. 2021-33 allows exclusion of PPP, restaurant revitalization and shuttered venue operator grants from ERTC gross receipts test.
IRS releases 2021 limits for depreciation deductions for autos

IRS releases 2021 limits for depreciation deductions for autos

Revenue Procedure 2021-31 lists depreciation limits for owners of passenger autos placed in service in 2021 and lessees' income inclusions.
IRS urges entities with EINs to update their information

IRS urges entities with EINs to update their information

IRS will begin issuing letters to approximately 100,000 businesses with Employer Identification Number to update their information.
IRS enhances employee retention credit guidance for open questions

IRS enhances employee retention credit guidance for open questions

Notice 2021-49 provides answers on previously uncertain issues and addresses changes implemented in the American Rescue Plan Act.
IRS proposes new regulations for mandatory e-filing

IRS proposes new regulations for mandatory e-filing

IRS proposes new regulations for mandatory e-filing of business and information returns. IRS reduces form threshold numbers.
The IRS launches new Tax Pro Account

The IRS launches new Tax Pro Account

The IRS’s new Tax Pro Account platform allows individual taxpayers to digitally approve, sign and grant authorizations to representatives.
Paid leave for employees impacted by COVID-19 in 2021

Paid leave for employees impacted by COVID-19 in 2021

Some employers can give paid leave to employees impacted by COVID in 2021 and claim a payroll tax credit per the American Rescue Plan Act.