Lease Accounting Changes Keep on Coming

State of Connecticut Provides Relief on Meals Tax

Legislation recently enacted by the Connecticut General Assembly provides relief for restaurants and related establishments that collect and remit sales tax on meals in Connecticut.

Medicare Hospice Payment Rate Update for Fiscal Year 2022

The Centers for Medicare and Medicaid Services (CMS) released its hospice payment update for October 1, 2021, through September 30, 2022 which included changes to payment rates, labor portion percentages, and wage indices.

Addressing “What Could Go Wrong” in Financial Statement Reporting

In preparing the financial information for an organization, it’s important to consider the various financial statement assertions related to each account balance or transaction class.

Federal Reserve Releases CECL SCALE Model

The Federal Reserve Bank rolled out its Scaled CECL Allowance for Losses Estimator (SCALE model), which is intended to simplify the process of calculating current expected credit losses (CECL) and the resulting allowance.

Always Another Deadline: Preparers Share Their Pre-October Priorities

SBA Opens Paycheck Protection Program Direct Forgiveness Portal

The U.S. Small Business Administration direct forgiveness portal now accepts loan forgiveness applications from borrowers with Paycheck Protection Program loans of $150,000 or less.

New York Widens Scope of Tax Audits Targeting Remote Workers

‘A Never-Ending Tax Season:’ Rating 2021

Attention Cayman Private Funds Operators: Complete Your FAR Filing Now!

The Cayman Islands Monetary Authority (CIMA) announced that the new Fund Annual Return (FAR) forms are available for submission for funds registered under the Cayman Islands Private Funds Act.

A Regulatory Framework for ESG Investing is on the Horizon

The growth of environmental, social, and governance (ESG) investing has prompted regulators, such as the SEC, to increase its focus on funds that promote ESG investment-related products and services.

4 Tips to Make Sure Your Estate and Trust Appraisal is Accurate

When you include an appraisal with your estate, it comes under intense scrutiny. Every detail of the appraisal, from its quality to reliability, is examined by the IRS.

Qualified Musical and Theatrical Production Credit Program

New York Governor Andrew M. Cuomo announced the launch of a new $100 million New York City Musical and Theatrical Production Tax Credit designed to help revitalize an industry vital to the state’s continued economic recovery.

Pay Down Debt or Save for Retirement?

The decision about whether to save for retirement or pay off debt can sometimes be affected by the type of debt you have.

California Pass-through Entity Tax

California is now among the states that have enacted workarounds for the SALT deduction limitation in response to IRS Notice 2020-75.