Newsletters

06.15.23

Dodd-Frank Clawback Rule: NYSE and Nasdaq Extend Effective Date for Compliance to December 1, 2023

On June 9, 2023, the Securities and Exchange Commission (SEC) approved the “clawback” listing standards proposed by the New York Stock Exchange (NYSE) and Nasdaq, including the amendments filed by each, extending the effective date to October 2, 2023 (see the NYSE Amendment and the ...


06.06.23

The Employee Retention Credit: Reduce Employer Payroll Taxes and Generate Cash

Added to federal tax law by the 2020 Coronavirus Aid, Relief, and Economic Security Act and further expanded in 2021, the Employee Retention Credit can significantly reduce an employer’s federal employment taxes.


11.15.22

Tax Credit Alternatives in the Inflation Reduction Act

Impact Investing and Community Development Partner John Dalton and Tax Partner Megan Christensen co-authored an article for Novogradac Journal of Tax Credits on the extensions and new credits included in the Inflation Reduction Act and how its two options for ...


08.26.21

IRS Urges Entities with EINs to Update Responsible Party and Contact Information

A news release issued by the IRS on July 30, 2021, reminds holders of Employer Identification Numbers (EINs) that a change in responsible party requires an update to be provided to the IRS within 60 days of the change by filing IRS Form 8822-B.


02.11.21

Update on Deductibility of Expenses Paid With Forgiven PPP Loans

The IRS released an advance version of Rev. Rul. 2021-2, which is consistent with a legislative change allowing taxpayers to deduct otherwise deductible expenses paid with the proceeds of a Paycheck Protection Program (PPP) loan that is forgiven (or expected to be forgiven).  


12.11.20

Update on Federal Tax Reporting of Virtual Currency and Related State Tax Issues

On August 18, 2020, the IRS released a draft Form 1040 for the 2020 tax year (the “2020 Form 1040”). The following question appears on the first page of the 2020 Form 1040: “At any time during 2020, did you receive, sell, send, exchange, or otherwise acquire any financial interest ...


09.02.20

Updated: Guidance on Payroll Tax Deferral

On August 8, 2020, President Trump issued an executive order directing the Secretary of the Treasury to permit employers to defer the withholding and deposit of certain payroll tax obligations.


12.20.17

Limitation on Deduction of Executive Compensation in Excess of $1M

The recently enacted Tax Cuts and Jobs Act substantially modifies the limitation on corporate deductibility of executive compensation under Section 162(m) of the Code.


05.23.16

Partners Are Not Employees, Yet

Recently the IRS issued guidance in the form of temporary and proposed regulations clarifying that individuals who are partners in a partnership that itself owns a disregarded entity are not to be treated as employees of the disregarded entity for various tax law purposes.


02.12.16

PATH Act Amends FIRPTA

Congress enacted the Foreign Investment in Real Property Tax Act (FIRPTA) in 1980 to impose U.S. income tax on certain foreign persons that invest in United States real property interests (USRPI).