Insights

Rhode Island Rebounds was created by the state to assist small business owners through the utilization of the American Rescue Plan State Fiscal Recovery Funds, a way to give back to those in need.

For small businesses located in New York and New Jersey, there are still some pandemic funds available under certain conditions.

There has been radio silence from Washington on the Accelerating Charitable Efforts (ACE) Act since it was introduced in the Senate in June 2021, but it has now gained traction.

The Internal Revenue Service (IRS) issued an information letter to provide guidance regarding the taxation of a cash refund of any unused transportation benefit.

The Provider Relief Fund (PRF) portal is open for reporting PRF payments received by entities from July 1, 2020 to December 31, 2020 (Period 2).

The New York State Department of Taxation and Finance (Taxation) issued Technical Memorandum TSB-M-21(1)C, (1)I (TSB-M) August 25, 2021.

Governor Murphy recently signed legislation which revises the threshold of total gross revenue received by a New Jersey not-for-profit organization

Throughout the pandemic, Congress introduced several stimulus packages to help taxpayers and relieve some of the economic burden caused by the coronavirus, many of which were still applicable in 2021.

The M&A market just finished a record setting year. Compared to 2020, both the number of deals and deal value were up significantly. This robust growth was across all deal sizes but was especially pronounced for deals over $1 billion.