Hot Topics / Insights
June042020
FASB Relief Permits One-Year Delay on Revenue Recognition and Leases Standards
Grace Singer, CPA 6.4.20 | COVID-19 Client Alert Recognizing the disruptions caused by the COVID-19 crisis, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2020-051 that grants […]
June012020
Election to Accelerate Disaster Loss Deductions May Create Cash Flow Opportunities
By Ken Maeng, J.D. and Shayna Byrne, J.D. 6.1.20 | Client Alert – COVID-19 Update On March 13, 2020, President Trump declared COVID-19 to be a national emergency1. The federal […]
May292020
SBA Issues New PPP Guidance on Loan Forgiveness
Naya Pearlman, J.D., LL.M. 5.29.20 | Client Alert COVID-19 Update Last week, after releasing the Paycheck Protection Program (PPP) loan forgiveness application form and instructions, the U.S. Small Business Administration […]
May262020
IRS Guidance on COVID-19 Related Relief for Cafeteria Plans and Flex Spending Arrangements
Shayna Byrne, J.D. 5.26.20 | Client Alert – COVID-19 Update On May 12, 2020, the IRS released Notices 2020-29 and 2020-33, which provides for increased flexibility with respect to 2020 […]
May202020
Quarantine and the Accidental State and Local Tax Resident
Richard Goldstein, J.D. 5.20.20 | Client Alert – COVID-19 Update The COVID-19 crisis has drastically altered the normal rhythm of our lives. Many who have quarantined and relocated to avoid […]
May202020
First Look at Key Aspects of the PPP’s Loan Forgiveness Process
Joseph Most, J.D. 5.20.20 | Client Alert – COVID-19 Update Last Friday, the Small Business Administration (SBA) released the Paycheck Protection Program (PPP) loan forgiveness application (the Application). The Application […]
May192020
Federal Reserve Announces Changes to the Main Street Lending Program
Joseph Most, J.D., Shayna Byrne, J.D. and Ken Maeng, J.D. 5.19.20 | Client Alert – COVID-19 Update On April 30, 2020, the Federal Reserve announced changes to its Main Street […]
May152020
SBA Issues New FAQs and IFR to Provide More Clarity on PPP Loan Program
Joseph Most, J.D. 5.15.20 | Client Alert – COVID-19 Update SBA Provides Safe Harbor to Determine Good-faith Certification Validity in new FAQ In the latest addition to the SBA’s frequently […]
May082020
Suspension of Excess Business Loss Limitation for Tax Years 2018-2020 Presents Opportunities and Issues
Nastassia Koyfman, J.D., LL.M. 5.8.20 | Client Alert – COVID-19 Update The Coronavirus Aid, Relief, and Economic Security (CARES) Act temporarily suspends Internal Revenue Code (IRC) Section 461 business loss […]