Insights

Nonprofit organizations formed as corporations should be aware of a favorable provision that provides for an increased deduction limit for disaster relief contributions.

Broker-dealers registered with the Securities and Exchange Commission (SEC) are generally required to file their audited financial report and either a compliance or exemption report within 60 days of the broker-dealer’s fiscal year-end.

Private clubs, like most businesses, are still being affected by government-related restrictions and shutdowns, and some private clubs, such as tax exempt 501(c)(7) clubs, are not able to take advantage of certain CARES Act relief provisions such as the Paycheck Protection Program (PPP) loans.

In light of the pandemic, companies that previously had no Federal Research and Development Tax Credit (Research Credit) opportunity may be eligible to capture the credit on their 2020 or 2021 returns.

Be wary. Be skeptical. Be proactive. Anything digitalized can be breached, information obtained, and criminal activity pursued.

Schools have spent 2020 adapting to an ever-changing set of restrictions – the move to online learning followed by the return to classrooms with significant restrictions and costs to create a safe environment for students.

The IRS confirmed in October that partnerships would need to report partners’ capital accounts on the tax basis.

Enhancing deal value and increasing certainty to close are what investment bankers do every day.

The IRS Identity Protection PIN (IP PIN) is a unique six-digit number assigned by the IRS to be used in conjunction with a taxpayer’s Social Security Number when filing their federal income tax return.