Insights

Since our most recent article, we have been able to validate further the effect of changes over the past year on published market data sources. While none of us have a crystal ball, we used historical data along with our professional experience to predict where the market data may go in the future.

There are issues that affect audits of nearly all broker-dealers. Understanding these audit risk areas can help guide your organization’s selection of a qualified auditor.

The House Ways and Means Committee and the Senate Finance Committee, the two primary architects of tax legislation in Congress, have each released competing plans for tax legislation that would impact partnerships.

As ransomware style attacks grow in frequency and magnitude, organizations need to be prepared for the new information security threats they face.

What private entities should know about the standard for their reporting in regard to FASB's ASU 2018-15 Cloud Computing Arrangements guidance.

The IRS is on the verge of a major enforcement initiative authorized by Congress that will affect partnerships and their partners.

The IRS is on the verge of a major enforcement initiative authorized by Congress that will affect partnerships and their partners.

In August the Office of Management and Budget (OMB) released its 2021 Compliance Supplement, 2 CFR Part 200 Appendix XI (Compliance Supplement), effecting Not-for-profits that receive federal grants.

Key updates financial leaders will want to understand about the AICPA updates to the form and content requirements for financial statement auditors’ reports, effective for audit periods ending after Dec. 15, 2021.

The London Interbank Offer Rate (LIBOR) is the current interest benchmark for bonds, loans, derivatives and securitizations worldwide.

The House Ways and Means Committee released discussion drafts that detail various tax increases or incentives for their version of President Biden’s “Build Back Better” infrastructure plan.

Here is a summary of who might be affected by the tax changes in the Biden administration’s infrastructure bill.

Our aims to provide clarity on where potential Qualified Small Business Stock opportunities may exist.

Companies are beginning to enter into nontraditional investments, such as Bitcoin and other digital assets.

Mayer Hoffman McCann P.C. (MHM) today announced that it has signed a definitive agreement to acquire the attest practice of Shea Labagh Dobberstein (SLD), a leading accounting service provider based in San Francisco, CA, with a closing effective September 1, 2021.

States are finding ways around the limit on the TCJA limit on state and local tax deductions.

As a reminder, private companies need to check with these elements of consolidation accounting.

View key metrics regarding the construction industry for the month of July.

A recent exposure draft is designed to make discount rate determinations easier for private entity lessees.

If M&A activity is in the cards for your business, you need to understand how recent tax developments could affect your strategy.

The first installment of the Biden Administration’s “Build Back Better” infrastructure package is now one step closer to reality.

Third party data breaches happen all the time, so it’s important to keep your client’s customer data safe.

This resource provides additional guidance on how the new accounting standard may affect lease accounting for lessors.

View key metrics regarding the construction industry for the month of June.

Receiving a notice from the IRS can be intimidating for individual taxpayers. Our resource clarifies what you should know to navigate the IRS collection process.

Changes are coming to the accounting for certain equity instruments.

Some not-for-profit entities may be more vulnerable to information security incidents and data breaches. Here’s what your organization needs to know about to protect itself from key cybersecurity risks.

View key metrics regarding the construction industry for the month of May.

The 2017 tax reform law commonly known as the Tax Cuts and Jobs Act (TCJA) caught states off-guard.

A look at the tax consequences of the recent Supreme Court ruling.

CFOs can help manage their risk protocol by reviewing the following areas.

Analysis of the tax changes outlined in the Treasury Department’s Green Book provide more insight into the Biden Administration’s plan to finance infrastructure reform.

Here are some action items organizations with retirement plans can take to secure plan data.

Special purpose acquisition companies, or SPACs, continue to grow in popularity as private companies look for alternative means of accessing the public market outside of a traditional initial public offering (IPO).

The Employee Retention Tax Credit (ERTC) was enacted as part of the early COVID-19 stimulus measures, and can be claimed through Dec. 31, 2021 by eligible employers who retained employees during the COVID-19 pandemic.

After some delays, standard changes to the lease accounting model for private companies and not-for-profit organizations are once again on the horizon.

Notable changes made to retirement plans in 2020 could affect 2021 employee benefit plan audits.

View key metrics regarding the construction industry for the month of April.

Washington state recently made a significant state and local tax change.

Organizations that are taking the ERTC should evaluate their accounting options.

Will the SALT Cap repeal happen under a Biden administration?

A closer look at what a recent court case says about cryptocurrency reporting.

Corporations subject to the Virginia state income tax have a new reporting requirement for 2021.

These three accounting changes may affect 2021 financial reporting, particularly for non-public entities.

Mayer Hoffman McCann P.C. (MHM) announced that it has signed a definitive agreement to acquire the attest practice of Berntson Porter, a leading accounting service provider based in Bellevue, WA, with a closing effective May 1, 2021.

Alpha numeric passwords may be cracked by unauthorized users, passwordless authentication may help.

COVID-19 changed how most businesses operate day-to-day. Similarly, many financial statement audit teams were tasked with migrating to a fully remote environment in order to complete year-end financial statement audits and other attest functions.

Here is a closer look at the Biden Administration's American Families Plan.

Private entities that select a new accounting alternative may be able to skip a test of goodwill impairment in 2020.

More deals give rise to questions on deferred revenue accounting.

The filing deadline for 2020 individual tax returns was postponed from April 15 to May 17, 2021, but the postponement did not apply universally.

Remote work highlights the importance of an information security model called Zero Trust.

View key metrics regarding the construction industry for the month of February.

View key metrics regarding the construction industry for the month of February.

Here are some provisions of the American Rescue Plan Act of 2021 affecting restaurants.

Here’s the forecast for using research and development tax credits.

Here’s a look at what the recent stimulus law means for not-for-profit organizations.

The IRS delayed 2020 tax year individual tax filings until May 17, 2021.

Tips for evolving your cybersecurity strategy for 2021.

International Tax Update Q1 2021

Be on the look for continued scam activity regarding COVID-19.

401(K) plans required to permit long-term, part-time employees to defer.

Barry Berkowitz, MHM Shareholder in our Philadelphia office, comments on new changes to the CPA Exam.

A look at the new stimulus legislation.

Nuances revealed in an IRS FAQ may affect individuals with cryptocurrency dealings.

Here are some points to consider when applying fair value accounting in 2021.

Banks previously not subject to the Federal Deposit Insurance Corporation Improvement Act of 1991 (FDICIA) may soon find themselves with new reporting requirements.

Shuttered Venue Operator Grants may help cultural institutions hard hit by the COVID-19 disruption.

Final rules on carried interests are more taxpayer-friendly

If your organization hasn’t considered some of these plays recently, you may want to explore the following provisions in short order.

When released as part of the Bipartisan Budget Act of 2015 (the BBA), several elements of the IRS audit rules for partnerships and LLCs were unclear, including opt out rules, methods for modifying an imputed underpayment, and allocation of imputed underpayments.

Final carried interest regulations bring significant changes to private equity and venture capital firms.

Manufacturers should be aware of the growing risks in the information security environment.

Here’s how to prepare your response to an information security incident.

Business disruption makes asset impairment an important consideration. Here are tips to know.

Here is a look at what the business interest expense regulations could mean for private equity and venture capital firms.

Here are some ways that not-for-profit organizations can tap into stimulus benefits.

A new SEC rule change may make it easier for pre-IPO and public companies to select an independent auditor.

The adoption of new revenue recognition in ASC Topic 606, Revenue from Contracts with Customers, introduced added complexity in the accounting for pre-opening services for franchisors.

View key metrics regarding the construction industry for the month of December.

Here is a look at the Biden plan for COVID-19 relief.

The following are 2021 accounting notes for public and private companies.

The Employee Retention Tax Credit (ERTC) was established by the Coronavirus Aid, Relief, and Economic Security (CARES) Act, but limitations on its availability tempered interest in the relief measure.

Here are some changes to expect after the presidential inauguration.

View key metrics regarding the construction industry for the month of November

The IRS and Treasury Department recently published final regulations on the tax treatment of the sale of partnership interests held by foreign partners.

The following 8 provisions in the new stimulus law are worth a closer review.

Accounting for 2020 requires analysis of COVID-19 impact as well as accounting standard changes.

Private equity and venture capital firms should monitor how market-based sourcing affects their funds’ tax obligations.

View key metrics regarding the construction industry for the month of October

Recent IRS regulations provide additional guidance for partnerships on the business interest expense limitation.

Many private equity and venture capital (PE/VC) firms have foreign investors and may have organized fund entities in non-U.S. jurisdictions, such as the Cayman Islands.

Special purpose acquisition companies (SPAC) require unique accounting considerations.

The following are key developments not-for-profit organizations should know about charitable giving in 2020.

Recent developments bring good news for pass-through entity owners that made sizeable charitable contributions in 2020.

Initial takeaways from the election may dampen Biden’s prospects for further tax law changes.

Paycheck Protection Program recipients may want to evaluate taxability of their loans.

A 13-week cash flow can help with monitoring from COVID-19 recovery.

Even in a normal operating environment, the sales process is often a complex and daunting undertaking that has a transformative effect on a business.

View key metrics regarding the construction industry for the month of September.

CFOs and internal audit teams should be prepared for more external auditor scrutiny.

A quick comparison of the two candidates’ tax plan.

Inflation-adjusted figures for tax rates, credits, and deductions.

Here is a closer look at the earn-out in M&A.

Here’s a look at how the 2020 presidential election could affect private equity and venture capital.

Here are four elements not-for-profits should be telling their boards about COVID-19 recovery.

Many not-for-profit organizations were forced to completely shutter operations because of the COVID-19 pandemic, making them eligible candidates for the Employee Retention Credit (ERC) benefit in the Coronavirus Aid, Relief, and Economic Security (CARES) Act.

Significant changes to partnership tax reporting are coming.

Deferrals of the employer’s share of Social Security taxes will impact 2020 tax deductions.

A look at some tax planning maneuvers to minimize the impact of the 2020 election.

Employee training on cybersecurity along with other strategies can help your organization be prepared for cyber threats.

The growing use of cloud computing technology and third party providers complicates data protection protocol.

It may be time to consider augmenting your information security team.

View key metrics regarding the construction industry for the month of August.

Here are recent Colorado state and local tax updates of which you should be aware.

Proposed rules clarify carried interests in partnerships.

Not-for-profit organizations that receive federal funds are subject to the requirements of the Uniform Grant Guidance, and the Subpart F Single Audit.

The pandemic relief law, the Coronavirus Aid, Relief, and Economic Security (CARES) Act provided an unprecedented $2 trillion in economic aid to American families, workers and small businesses affected by the Coronavirus Disease 2019 (COVID-19).

Valuation of intangible assets in technology business combinations is complex.

Here’s a closer look at changes to accounting for complex debt and equity instruments.

Here’s how forecasts affected impairment accounting.

Recent IRS guidance details employee eligibility, the repayment period, and employer responsibilities for President Trump’s employee payroll tax deferral.

View key metrics regarding the construction industry for the month of July.

Key performance indicators help manufacturers monitor business performance.

A look at how Kamala Harris’s tax plan could affect the Biden plan.

If you plan to move to a lower tax state, it may be helpful to understand how states determine residency for tax purposes.

For-profit organizations that received coronavirus relief funds may even be facing their first Single Audit under the Office of Management and Budget (OMB)’s Uniform Grant Guidance (UGG).

External events arising from the COVID-19 pandemic and its disruption could intersect with several components of accounting.

Here’s a look at recent guidance from the SBA and other Paycheck Protection Program updates.

Here is a closer look at four executive orders issued on August 8.

Estate planning may be particularly important this fall.

COVID-19 related price changes may affect revenue recognition accounting.

Recent proposed regulations are largely unfavorable to small business taxpayers, and may disrupt tax strategies involving inventory.

Proposed stimulus legislation would offer the following benefits to not-for-profit organizations.

Here are three accounting considerations if your organization is undergoing restructuring.

Details were recently finalized about how nonprofits can access the Main Street Lending Program.

The IRS released proposed updates to clarify its carried interest rules, provisions that put restrictions on how much investment related income can qualify for a lower tax rate.

Senate Republicans released on July 27 their $1 trillion proposal for the next phase of coronavirus relief legislation.

Multinational organizations should prepare for new international tax obligations.

U.S. corporations with foreign subsidiaries may be able to claim an ordinary loss deduction under Section 165(g)(3).

Here’s a closer look at the 2020 presidential candidates’ proposed tax plans.

Distressed debt arrangements can be mutually beneficial but they come with tax consequences.

Purchasing debt from a portfolio company may trigger tax implications.

Remote work and information security risks may have more organizations being asked to produce System and Organization Controls (SOC) reports.

Here is a recap of tax updates that could affect 2019 tax filings.

Private colleges and universities face reporting changes.

Our complimentary webinar will provide an overview of some of the obstacles and best practices public company tax departments are encountering within a remote work environment.

Facing a revenue decline as a result of the COVID-19 pandemic, the state of California is taking steps to protect state income tax revenue.

A recent memo clarifies Single Audit requirements.

As part of its recent review of the CARES Act loan programs, the Federal Reserve is evaluating whether to expand its Main Street loan facilities to include not-for-profit organizations.

The IRS recently issued Notice 2020-43 (the Notice) to seek public comment on a proposed requirement for partnerships to use only certain specified methods to satisfy the tax capital reporting requirement with respect to partnership taxable years that end on or after Dec. 31, 2020.

Debt modifications may come with tax consequences. Here’s how.

With much of the economy still operating at a limited capacity, businesses are feeling the crunch and many portfolio companies are having a difficult time servicing their debt.

Recent guidance from the AICPA provides more clarity on how to account for PPP loans.

Here are some financial reporting steps to consider if your organization receives a debt raise.

Join CBIZ, MassMEDIC, and TriNet for a discussion on Cost Optimization Strategies and Tax Relief for Medical Device and Other Life Science Companies.

Not-for-profit organizations have clearer guidance on how to account for PPP loans than other types of organizations.

The pandemic opened the door for a tax opportunity under Section 165(i).

The Paycheck Protection Program Flexibility Act provides more room for loan forgiveness.

The Financial Accounting Standards Board formally delayed the effective date of the leasing and revenue recognition standards for select entities.

Accounting for the Paycheck Protection Program loans is not straightforward. The following provides a closer look.

Changes may be coming soon that would allow for greater flexibility with forgiveness for Paycheck Protection Program loans.

The risks posed to the cybersecurity environment during the COVID-19 pandemic may lead to additional questions about your information security control environment.

The following considerations may help guide your company in its evaluation of complex transactions after the COVID-19 pandemic.

While the IRS is operating at limited capacity, it may be worth evaluating your options to ensure and validate that mailed-in tax documents were received on-time.

A recent decision to delay the effective date for the revenue recognition and leasing accounting standards may bring some relief for not-for-profits, but for those approaching their June 30 financial statements, some of the changes may be coming too late.

Reporting changes were delayed a year, but partnerships should still be braced for changes coming to their Schedule K-1 reporting.

The FASB voted to move ahead with the adoption date deferral of ASC Topic 606 and the ASC 842, Leases for non-public entities.

Investment vehicles with Cayman Island reporting requirements may have additional filing requirements and some delayed due dates to consider.

Measures taken to help with COVID-19 recovery have an impact on U.S. international tax requirements.

Our complimentary presentation will provide an overview of the challenges with valuing businesses during a disrupted market and include a discussion of potential opportunities that may result from the changes in market volatility and low asset values that came about due to the pandemic.

Finance teams may want to check in how tax departments are operating, as some key functions have become more challenging as a result of the COVID-19 pandemic.

Phishing schemes seemingly related to the COVID-19 pandemic heighten information security risks for employees and organizations alike.

Recent changes resulting from the COVID-19 pandemic will have a federal and state tax impact.

Our webinar will recap hot topics, technical matters, and other current events that have a bearing on international tax planning and compliance. We will highlight emerging best practices and other tips to help you navigate through these areas.

Real estate operators have unique tax planning opportunities to consider that resulted from recent COVID-19 economic stimulus legislation.

Summer started early for university campuses across the country. Many closed their campuses well in advance of the end of the semester in efforts to protect students and faculty from the COVID-19 pandemic.

Organizations will need to factor in COVID-19 into their ASC Topic 606 analysis.

The FASB recently granted some relief for accounting for lease payment deferrals.

A game plan for capital and operating expenditures can help expedite your organization’s recovery from COVID-19 disruption.

In response to the financial damage related to the COVID-19 pandemic, Congress passed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act).

Not-for-profit organizations should look to the CARES Act for COVID-19 pandemic relief.

Public companies will need to address a number of income tax accounting implications from the CARES Act for their quarterly financial reporting.

COVID-19 stimulus legislation and other impacts from the pandemic will affect several elements of income tax accounting in 2020.

From managing the safety of the workforce to capitalizing on relief provisions, the construction sector has plenty of considerations for managing the impact of the COVID-19 pandemic.

Congress appears to be on the verge of replenishing funds for Paycheck Protect Program.

Federal tax provisions in the CARES Act affect international tax requirements as well, including GILTI, FDII, and BEAT taxes.

Widespread work-from-home arrangements are complicated, and the remote work scenario occurring during the COVID-19 pandemic may also make state and local taxes more challenging, too.

Market movements and the COVID-19 pandemic’s impact on future cash flows may produce triggering event for organizations to test their assets for impairment.

Uncertainties created by the COVID-19 pandemic may cast doubt about an organization’s ability to continue operating as a going concern, an important accounting consideration involved in financial statement preparation.

The FASB voted this morning on a proposal to further delay the effective date for the changes to lease accounting for private companies and not-for-profit organizations.

Ensuring the safety and security of data during remote work scenarios is essential. The following are some suggestions on how organizations can sure information remains secure.

The following considerations for headcount, liquidity, and other areas of your operations may help ensure your organization is responsive to the uncertainty caused by the COVID-19 pandemic.

Private equity and venture capital funds as well as their portfolio companies should carefully consider the impact of the provisions in the CARES Act, including SBA loans, tax loss limitations, and relief from business interest limitations.

New registration requirements in the Cayman Islands may affect venture capital and private equity funds.

This webinar will be a technical presentation of the research and development tax credit. Discussion regarding credit definitions set forth by code section 41 and 174, applicable court cases and regulations and current IRS audit guidelines.

The following tips may help companies respond to supply chain disruptions caused by the COVID-19 pandemic.

Establishing a 13-week cash flow can help businesses navigate the disruption caused by the COVID-19 pandemic.

The following tips may help not-for-profits manage the repercussions from the coronavirus pandemic.

In light of the COVID-19 pandemic disruptions, the SEC recently released some relief and guidance for public companies and SEC registrants.