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.
American Rescue Plan: Reporting Requirements for Coronavirus State and Local Fiscal Recovery Funds
The U.S. Treasury’s Reporting Requirements and Deadlines Report 1 of the American Rescue Plan Act of 2021 (ARP) for Coronavirus State and Local Fiscal Recovery Funds (SLFRF) is due August 31, 2021
U.S. Supreme Court Rules Donor Disclosure Laws to Be Unconstitutional
Donor transparency versus donor privacy; substantial government interest versus an undue burden. This has been the subject of debate and litigation for nearly a decade.
The Impact of the New Lease Accounting Standard on Private Clubs
After many delays, the implementation date for the new lease accounting standard is right around the corner.
PKF O’Connor Davies Hires Joshua Burgher as Principal
PKF O’Connor Davies, LLP, one of the nation’s largest accounting, tax, and advisory firms, announced today it has hired Joshua Burgher to serve as Principal in the Firm’s Management Advisory practice.
Tax Planning Strategies for Selling Your Business – Part 1
One of the best ways to increase and preserve your family’s wealth is smart tax planning.
Cyber Roundup – August 2021
As you may be aware, PKF O’Connor Davies specialists from various disciplines, including our IT consultancy practice, serve as the vCISO (a.k.a. virtual Chief Information Security Officer) for many outside businesses.
The Impact of Climate Risk Management on Quantitative Easing and Beyond
Climate risk is the latest existential threat in the portfolio of 2021 worries. While most Americans have endured a brutally hot, humid and inclement summer, it can be hard to see the connection between climate risk and the economy beyond higher prices for commodities, including fruits and vegetables, and related supply chain issues.
DOL Increasingly More Focused on Retirement Plan Cybersecurity
In the May 2021 Employee Benefit Plans Alert headlined Cybersecurity Guidance for Retirement Plans, the specialists in our Employee Benefit Plans Group discussed the recently-released guidance from the Department of Labor (DOL) Employee Benefits Security Administration (EBSA) regarding the importance of adopting comprehensive cybersecurity best practices.
PPP Loans Are Coming Due – Here’s What You Need to Know
Recipients of PPP loans have 10 months from the end of their 24-week covered period to apply for loan forgiveness before payments start coming due. For most loan recipients, that “due date” is right around the corner