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IRS makes statements on CARES Act Employee Retention Tax Credit risks

IRS makes statements on CARES Act Employee Retention Tax Credit risks

By RSM US LLP | October 31, 2022

On Oct. 19, 2022 the IRS issued a news release warning employers to be wary of third parties who have ramped up campaigns to try and get employers to claim the CARES Act Employee Retention Tax Credit (ERTC) when they may not actually qualify.

Increasing a nonprofit’s impact through operational efficiency

Increasing a nonprofit’s impact through operational efficiency

By RSM US LLP | July 13, 2022

Nonprofit organizations often have lean operational budgets. They want to put as much of their resources as possible into fulfilling important missions. But a nonprofit that struggles with its operations will soon find itself with limited mission impact as well.

Senate Finance releases Build Back Better text

Senate Finance releases Build Back Better text

By RSM US LLP | December 13, 2021

Senate Finance Committee Build Back Better language largely leaves House Bill unchanged. SALT language omitted as well as billionaires' tax.

IRS releases guidance on Q4 removal of employee retention credit

IRS releases guidance on Q4 removal of employee retention credit

By RSM US LLP | December 6, 2021

Employers need to react quickly to the new guidance to pay in amounts as if they were incurred on Dec. 31, 2021.

IRS issues employee retention credit gross receipt exclusion procedure

IRS issues employee retention credit gross receipt exclusion procedure

By RSM US LLP | August 11, 2021

Rev. Proc. 2021-33 allows exclusion of PPP, restaurant revitalization and shuttered venue operator grants from ERTC gross receipts test.

IRS enhances employee retention credit guidance for open questions

IRS enhances employee retention credit guidance for open questions

By RSM US LLP | August 4, 2021

Notice 2021-49 provides answers on previously uncertain issues and addresses changes implemented in the American Rescue Plan Act.

4 steps for nonprofits to protect against cybersecurity attacks

4 steps for nonprofits to protect against cybersecurity attacks

By RSM US LLP | July 31, 2021

Nonprofits are an attractive target for cyberattacks. Understand steps your organization can take to improve security.

IRS extends May 17, 2021 due date for victims of Tennessee storms

IRS extends May 17, 2021 due date for victims of Tennessee storms

By RSM US LLP | May 14, 2021

IRS postpones certain filing, payment and other deadlines for taxpayers affected by Tennessee storms, wind, tornadoes, and flooding.

The IRS provides further guidance on the Employee Retention Tax Credit

The IRS provides further guidance on the Employee Retention Tax Credit

By RSM US LLP | April 5, 2021

The Relief Act made changes on how the Employee Retention Tax Credit works during the first two quarters of 2021.

Guidance issued for employers claiming the Employee Retention Credit

Guidance issued for employers claiming the Employee Retention Credit

By RSM US LLP | March 2, 2021

Notice 2021-20 clarifies retroactive changes made to ERTC and PPP interaction and incorporates several previous frequently asked questions.

Employee retention tax credit significantly expanded for 2021

Employee retention tax credit significantly expanded for 2021

By RSM US LLP | January 12, 2021

The Employee Retention Tax Credit was significantly expanded by the federal relief and stimulus package finalized Dec. 27, 2020.

PPP eligibility expanded to certain section 501(c)(6) organizations

PPP eligibility expanded to certain section 501(c)(6) organizations

By RSM US LLP | January 6, 2021

Year-end stimulus legislation extends Paycheck Protection Program and expands eligibility for exempt organizations.