Articles
The Segmentation Stage of Glamping
Glamping, or nature-based travel more broadly, has become a proven part of the hospitality sector.
Self-Dealing – IRS Temporarily Halts Certain 4941(d) Rulings
The Internal Revenue Service (IRS) issued on September 3, 2021 Revenue Procedure 2021-40 (2021-40), which stated that the IRS will place a temporary halt on issuing letter rulings or determination letters in relation to whether certain transactions are self-dealing within the meaning of Section 4941(d) of the Internal Revenue Code (the Code).
Independent and Religious Schools: Reminder of IRS Requirements on Publicizing Racial Nondiscriminatory Policy
The IRS issued Revenue Ruling 71-1447 in 1971, which stated that racial discrimination in education is contrary to public policy.
Cyber Roundup – September 2021
While analyzing critical issues to explore in each issue of Cyber Roundup and working with our clients on their cyber challenges, I am continually astonished at the schemes bad actors conceive of to disrupt business, the economy and people’s everyday activities.
International Activities Conducted by Tax-Exempt Organizations, Center of Attention at the Internal Revenue Service
International activities conducted by tax-exempt organizations have been a high-focus area for decades.
IRS Provides Hurricane Ida Relief to Parts of New York and New Jersey
The IRS announced that victims of Hurricane Ida will have until January 3, 2022 to file various individual and business tax returns and make tax payments.
SEC Approves New Board Diversity Rules for Nasdaq-Listed Companies
The Securities and Exchange Commission (SEC) recently approved new listing rules that will require Nasdaq-listed companies with six or more directors to have, or explain why they do not have, at least two diverse directors.
Have Your Cake and Eat It Too!
When the rules first came out, it was one or the other – Paycheck Protection Program (PPP) or Employee Retention Credit (ERC).
M&A Deal Activity Continued to be Robust in Q2 2021
North American M&A deal activity remained strong in Q2 of 2021, following a strong first quarter in 2021 and a record breaking fourth quarter in 2020.
At Last, NYS Issues Guidance on Its New Pass-Through Entity Tax
This week ‒ finally ‒ the New York State Department of Taxation and Finance (Tax Department) issued a Technical Services Memorandum, TSB-M-21(1)C,(1)l, addressing open issues regarding New York’s new pass-through entity tax (PTET).
Self-Dealing – Frequently Asked Questions
Acts of self-dealing come in many forms, and it is vital that foundation managers and board members are mindful of the different types of self-dealing prohibitions and the potential consequences to the foundation and the individuals involved in the act.
Provider Relief Fund Update ‒ Looming September 30, 2021 Reporting Deadline
The CARES Act Provider Relief Fund (PRF) reporting portal has been officially opened and the reporting deadline for any combined PRF funds exceeding $10,000 received within the first reporting period (see table below) is due by September 30, 2021.