Newsletters

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.

08.06.21

Proposed Tax Legislation Could Significantly Impact Your Estate Plan

Recent news stories have been published about two bills introduced in the Senate that, if enacted, could have a significant impact on many estate plans.

02.16.21

SBA Issues New Guidance on Loan Forgiveness

On January 19, 2021, the Small Business Administration published new Loan Forgiveness Requirements and Loan Review Procedures pursuant to an Interim Final Rule, or IFR.

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).

02.09.21

Updated: HSR Thresholds Revised (and Lowered) and Early Terminations Suspended Pending Review

On February 1, 2021, the FTC announced revised notification thresholds for determining whether companies or other entities are required to provide notice to the federal antitrust agencies about a proposed transaction under the HSR Act of 1976, as amended.

12.22.20

Congress Reauthorizes and Modifies Paycheck Protection Program

On December 21, 2020, Congress passed a $900 billion aid package to help address economic hardships wrought by COVID-19.

12.15.20

Prop 19 to Significantly Restrict Family Transfer Exclusion From Property Tax Reassessment

On November 3, 2020, California voters approved Prop 19, which will make several changes to the state’s property tax laws. Among these changes are new restrictions on the applicability of the parent–child/grandparent–grandchild exclusion from property tax reassessment ...

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 ...

12.10.20

New York Drags Its Securities Filings Into the 21st Century

New rules will simplify the notice filing process for private placements by requiring filings be made on a Form D via the North American Securities Administrators Association multistate Electronic Filing Depository, consistent with how such filings have long been made in most other states.

12.02.20

Proposed Nasdaq Rules Aim to Increase Board Diversity

On December 1, 2020, the Nasdaq stock exchange filed with the Securities and Exchange Commission (SEC) a proposal1 to adopt new listing rules concerning the diversity of Nasdaq-listed companies’ boards of directors.