Tax Insights
- April 28, 2021
- Accounting | COVID-19 | Tax
Following enactment of the recent American Rescue Plan (ARP) for COVID-19 relief and a major infrastructure proposal, the Biden Administration moves ahead with another…
- April 27, 2021
- Accounting | Audit and Tax | COVID-19 | Tax
DOWNLOAD SIKICH’S “MENU” HERE The COVID-19 pandemic impacted many businesses and employees over the past year, but arguably few industries were hurt as severely…
- April 5, 2021
- Accounting | Government Contractors | Tax
Any contract with a federal agency is subject to special accounting rules. These rules are applied to ensure fairness, efficiency and taxpayer confidence. They also encourage competitive…
- April 1, 2021
- Accounting | Audit and Tax | COVID-19 | Tax
On the heels of the recent American Rescue Plan (ARP) for COVID-19 relief, the Biden administration and Congress are embarking on their next major…
The IRS announced on March 17, 2021 that it was extending the due date for 2020 individual tax returns from April 15, 2021 until…
- March 11, 2021
- Accounting | COVID-19 | Tax
On March 10, 2021, Congress passed its latest COVID-19 relief legislation. The $1.9 trillion “American Rescue Plan Act of 2021” (H.R. 1319, or ARP)…
- March 2, 2021
- Accounting | COVID-19 | Tax
Two months after passing its second major COVID-19 relief package of nearly $1 trillion, Congress is poised to push for another large relief package,…
- February 26, 2021
- Accounting | COVID-19 | Infographic | Tax
Much Interest in the Enhanced Employee Retention Credit (ERC) but Questions Remain – We Offer Some Answers The recent “Consolidated Appropriations Act, 2021” (“CAA”)…
In part one of this series, we discussed Wayfair developments, changes at the state level and marketplace facilitator updates. As it’s been over two…
- February 23, 2021
- Accounting | COVID-19 | Tax
On February 22, 2021, the Biden Administration announced its intentions to assist primarily small businesses through the PPP loan. This focus will take effect…
- February 19, 2021
- Accounting | COVID-19 | Distribution | Manufacturing | Tax
If you missed the first installment of this two-part article, click here to find Part One. Throughout the pandemic, companies reacted with drastic cost-cutting…
- February 11, 2021
- Accounting | COVID-19 | Distribution | Manufacturing | Tax
When confronted by his head scout about challenging baseball norms, Billy Beane, former Oakland A’s general manager (and featured in both book and movie),…
We recently sent a communication regarding the current situation involving Wisconsin not allowing Paycheck Protection Program (PPP) loan expenses to be deductible, as the…
- February 9, 2021
- Accounting | COVID-19 | Tax
Congress recently enacted the ‘‘Consolidated Appropriations Act, 2021” (CAA – H.R.133) on December 27, 2020 – nine months to the day after Congress passed…
- February 4, 2021
- Accounting | COVID-19 | Not-for-Profit | Tax
At the onset of the COVID-19 pandemic last March, Congress enacted three pieces of legislation over a few short weeks – the largest being…
- January 28, 2021
- Forensic & Valuation | Tax
Under the Tax Cuts and Jobs Act of 2017, the federal lifetime gift tax exclusion was increased from $5.45 million to $11.7 million for…
- January 25, 2021
- Accounting | Not-for-Profit | Tax
On January 11, 2021, the IRS issued final regulations providing guidance on the federal excise tax on executive compensation in excess of $1,000,000 paid…
- January 20, 2021
- Accounting | COVID-19 | Tax
The Wisconsin Department of Revenue (WDR) released guidance on January 15, 2021 on how PPP loan expenses will be treated for Wisconsin tax purposes….
This material has been prepared for general informational purposes only and is not intended to be relied upon as accounting, tax, or other professional advice. Please refer to your advisors for specific advice.
