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RECENT INSIGHTS:
Updated IRS Guidance on Meals and Entertainment Expense Deduction
In 2021 and 2022, a temporary change to the tax code allows companies to deduct 100 percent of most business meal and entertainment expenses. Guidance on per diem deductibility has also been clarified.
New Schedule A for Form 990T
The IRS has overhauled the 2020 Form 990T “Exempt Organization Business Income Tax Return” and created a new Schedule A “Unrelated Business Taxable Income From an Unrelated Trade or Business” to allow reporting of separate unrelated business activities.
The Impact of November 2021’s Elections on Nonprofits
Election years can create uncertainty for nonprofits, even off-years and midterm elections. This article explores factors that are impacting nonprofits and what they can do to stay ahead of changing legislative priorities.
Senate Finance releases Build Back Better text
Senate Finance Committee Build Back Better language largely leaves House Bill unchanged. SALT language omitted as well as billionaires' tax.
Federal Contractors on the Hook for Cybersecurity Readiness
In another demonstration of the federal government’s commitment to cybersecurity, the DOJ released details of its Civil Cyber-Fraud Initiative. Here’s how contractors can comply.
IRS Releases Guidance on Q4 Removal of Employee Retention Credit
Employers need to react quickly to the new guidance to pay in amounts as if they were incurred on Dec. 31, 2021.
