Insights
FASB Delays Revenue Recognition and Leases Standard for NFPs in Response to COVID-19 Concerns
At its meeting on Wednesday, May 20, 2020, the Financial Accounting Standards Board (FASB or Board) voted on or clarified three issues involving the standards for: revenue recognition, leases, and contributions received and made.
Updated work from home policy reflects Firm’s commitment to employee safety and work-life balance
PKF O’Connor Davies, LLP, one of the nation’s largest accounting, tax, and advisory firms, announced today a new pilot program […]
Getting Back to the Business of Business
We don’t know for sure whether the U.S. economy will rebound and boom once the lockdown ends and we are all back to business.
Time to Get Creative – Save Money and Leverage Impact
Just as certain insurance companies have given credits or refunds for car insurance premiums because of the lack of usage […]
PPP Payroll Costs – Don’t Jump the Gun
Since the release of the Paycheck Protection Program (PPP) Loan Forgiveness Application (Application), there have been hundreds of articles detailing the specifics of the Application and the information it provides on costs eligible for forgiveness.
SBA Offers Relief to PPP Recipients with Foreign Affiliates
On May 18, 2020, while most Paycheck Protection Program (PPP) participants were studying the Loan Forgiveness Application released on May 15, 2020, the U.S. Small Business Administration (SBA) issued an Interim Final Rule (IFR) on Treatment of Entities with Foreign Affiliates.
PPP Loan Forgiveness Application: An In-Depth Analysis
Like Alice’s trip down the rabbit hole in Lewis Carroll’s famous 1865 novel, the Paycheck Protection Program (PPP) has been filled with surprising, strange and sometimes frightful twists and turns.
PPP Loan Forgiveness Application: Overview
On May 15, 2020, the Small Business Administration (SBA) issued Paycheck Protection Program (PPP) Loan Forgiveness Application (Application).
Do Employees Working from Home During the Pandemic Trigger State Tax Nexus for Their Companies?
In the time before the coronavirus outbreak – which seems so long ago ‒ companies were addressing state tax considerations of their mobile workforces
IRS Relief: Increased Flexibility ‒ Section 125 Cafeteria Plans
A significant amount of information pertaining to relief afforded retirement plans has previously been issued by the Internal Revenue Service and Department of Labor which was previously reported upon by us in a prior Alert.
Paycheck Protection Program: New Needs Certification Safe Harbor
As we have previously mentioned in our articles, the guidance surrounding the Paycheck Protection Program (PPP) keeps changing and evolving.
IRS Relaxes Safe Harbor Minimum Cash Distribution Requirement by REITs and RICs
To help conserve vital liquidity during these trying times, the IRS issued Revenue Procedure (Rev. Proc.) 2020-19 on May 4, 2020 to provide temporary relief to publicly-offered real estate investment trusts (REITs) and publicly-offered regulated investment companies (RICs) with regard to their annual required cash distributions to shareholders.