Articles

The speed with which cybercrime continues to adapt to new technologies, preventative and resistance measures is matched by the creativity with which today’s criminals create new opportunities to wreak havoc.

The IRS issued its final regulations on the deductibility of meals and entertainment expenses on September 29, 2020.

While organizations continue to adapt their operating practices during the ongoing pandemic and associated recession, it is clear that some of the challenges executives and Boards face are, in fact, significant risks that could result in reputational damage, regulatory compliance failures, fraud as well as financial loss.

Conflicts between related parties ‒ whether for divorce, a business break-up, a bankruptcy or an estate challenge ‒ often revolve around finances and a lack of trust between the parties.

The U.S. Small Business Administration (SBA) announced last week that it will be issuing Loan Necessity Questionnaires to Paycheck Protection Program (PPP) Borrowers that, together with their affiliates, received PPP loans with an original principal amount of $2 million or more.

Small businesses continue to navigate through the treacherous waters of economic uncertainty brought on by the COVID-19 pandemic.

As the year 2020 comes to a close, partnerships should be prepared for some major adjustments regarding certain tax reporting requirements.

Plan sponsors should review the cost of living adjustments (COLAs) to determine what, if any, changes need to be communicated to employees by means of orientation meetings and enrollment forms.

Whether an individual is properly classified as an employee or as an independent contractor has always been important, but never more critical than today.

Since the Paycheck Protection Program (PPP) was first introduced, borrowers were advised that they cannot double-dip, or be reimbursed for the same expense twice.

Finance Memorandum 20-6 issued by the New York City Department of Finance sets forth that NYC’s Business Corporation Tax (BCT), General Corporation Tax (GCT), Unincorporated Business Tax (UBT), and Banking Corporation Tax (BTX) are decoupled from CARES Act Amendments to IRC §163(j), IRC §172 and IRC §461(l). Our prior article, here, discussed how NYS and NYC had decoupled from certain CARES Act tax provisions.

The State of New Jersey (NJ) was active making tax changes in late September/early October. NJ’s Governor Phil Murphy signed into law a budget impacting both individuals and corporations.