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Still Need to File Small Business Subcontracting Reports or Update SAM? You Have More Time!
As a result of the COVID-19 emergency, the deadline to file Individual Subcontracting Reports (ISR) has been extended to June…
The Fundamentals – Pulse on the Economy and Capital Markets
Dates covered: 4/13 – 4/17 Executive Summary This was the first week of monthly economic news relating to the initial…
Is PPP Loan Forgiveness a “Credit” on Federal Contracts?
On April 17, Defense Pricing and Contracting (DPC) updated its Frequently Asked Questions. The following is included in the updated…
LIBOR Will be Gone—The Reference Rate Reform is Here
The London Interbank Offered Rate, or LIBOR, has been the go-to rate to set interest rates for a financial contract,…
Georgia Extends Additional Tax Deadlines
The Georgia Department of Revenue announced today, April 16, 2020, that additional tax deadlines have been extended to align with…
Treasury Issues New Guidance on SBA Loans for Self-Employed
Yesterday afternoon, Tuesday, April 14, 2020, the Treasury issued a new interim final rule with additional eligibility criteria and requirements…
Payroll Tax Deferral Does Not Disqualify Taxpayers From Applying For or Utilizing a PPP Loan
While the Coronavirus Aid, Relief, and Economic Security (CARES) Act has provided expansive aid to taxpayers and employers across the…
Maryland Commerce Department, Montgomery County, Prince George’s County, and District of Columbia Announce Disaster Recovery Loan Programs
This blog was updated as of 4/24/2020. Montgomery County, MD On March 31, 2020, Montgomery County, Maryland passed the Public…
Who Benefits from the Fed’s $600 Billion Direct-Lending Program?
On April 9, 2020, the Federal Reserve announced the creation of a new lending program to help mid-sized businesses access…
IRS Extends More Tax Deadlines and Issues NOL Carryback Regulations
To provide added relief to taxpayers, the Department of Treasury and IRS announced yesterday, April 9, 2020, the extension of…
A Borrower’s Toolkit for COVID-19
A Time for Conversation With Your Lender – What to Ask and What to Ask For By Michael Levy, Partner-in-Charge,…
Conventional Wisdom for Manufacturers 2.0 – Rethinking Inventory Levels
While the lasting ramifications of the Coronavirus pandemic, both globally and domestically, will not be fully understood for a long…
Paycheck Protection Program (PPP) FAQ
This document was prepared based on information available on March 30, 2020 and was updated on April 2, 2020 from…
How Will the COVID-19 Crisis Affect the Value of Your Business?
We’ve all witnessed the recent share price volatility in public equities. While there may be some debate about exactly when…
Webinar: Unpacking the Economic Stimulus Package: How you Will Benefit
Watch this webinar to see Aprio unpack the historic $2 trillion Coronavirus Aid, Relief, and Economic Security Act, the largest…
The Latest on Tax Filing and Payment Dates
Over the last week, the IRS and U.S. Treasury Department have made a series of announcements to provide tax relief…
The Coronavirus Aid, Relief, and Economic Security (CARES) Act: What Does it Mean for You and Your Business?
The Coronavirus pandemic in the United States has created an economic crisis unlike anything this country has ever seen before….
Vital Tips For Construction Contractors Amid COVID-19 Economic Downturn
Despite the paralyzing levels of uncertainty brought on by the coronavirus pandemic, construction contractors need to take proactive steps to…
COVID-19 Emergency Opens GSA and VA Schedules to State and Local Use
On March 13, 2020, President Donald Trump declared a national emergency in response to the novel coronavirus outbreak (COVID-19) in…
Ohio Finds that Auto Finance Company’s Receipts are Not “Gross Receipts” Under the Commercial Activity Tax
Ohio’s gross receipts-based Commercial Activity Tax (CAT) excludes from the tax certain categories of receipts, including those from certain financial…
A Tax Free Way to Help Your Employees Amid COVID-19
By: Charles Webb and Craig Fisher In response to the terrorist attacks on Sept. 11, 2001, Congress enacted IRC Section…
California Imposed Successor Liability on Purchaser of Restaurant Assets
When acquiring the assets of a business, be careful how the transaction is structured or you may be deemed to…
Florida Applies “Income Producing Activity” Rule to Source Service Revenue to Customer Location
The cost of performance rule for sourcing service revenue when calculating the sales factor of the apportionment formula generally assigns…
Internal Controls in a Remote Workplace Environment
In an effort to #flattenthecurve of the coronavirus pandemic, many workplaces are going 100% remote. Every business should ensure that…
Business Interruption Insurance and COVID-19: What You Need to Know
As businesses across the U.S. begin to assess their current and future losses sustained due to COVID-19, many are raising…
COVID-19: State and Local Tax Implications.
As we all are aware, COVID-19 has affected individuals and businesses on a global scale. Here in the United States,…
ABCs to Account for COVID-19 Sick Leave
On March 18, 2020, the Families First Coronavirus Response Act was enacted into law and will go into effect on…
Government Contractors Should Be Prepared to Invoke the Excusable Delays Clause
The coronavirus pandemic is adversely affecting the economy and government contracting is no exception. Aprio predicts that some contracts will be…
As Cities and States Announce Closures, What is the Difference Between an Essential and Nonessential Business?
The response to the coronavirus pandemic in the United States has largely been driven by individual state governments, with several…
Federal Tax Filing Date Extended to July 15
Get the latest in this Aprio blog: The Latest on Tax Filing and Payment Dates. Just days after announcing that…
Tips for Maintaining a Thriving Culture While Working Remote
Has the coronavirus pandemic thrust your company’s once-thriving office culture into the uncertainty of working remotely? Are you worried about…
SBA Disaster Assistance Now Available to Georgia Small Businesses
The U.S. Small Business Administration (SBA) announced on Wednesday, March 18, 2020 that it is now offering low-interest federal disaster…
Treasury and IRS Issue Guidance: Tax Deadline Remains April 15 with Tax Payment Deferment to July 15
Get the latest in this Aprio blog: The Latest on Tax Filing and Payment Dates. Today, the Treasury and IRS…
Coronavirus Alert: Emergency Relief for Employers and Families
The Families First Coronavirus Response Act (H.R. 6201), enacted on Wednesday, March 18, 2020, provides a comprehensive financial aid package as the coronavirus outbreak…
Will Financial Statements Require Disclosures Related to COVID-19?
Due to the uncertainty caused by COVID-19, business owners and executives should be keenly aware of the additional disclosures or…
The Venture Capital Market – March 2020
By: Simeon Wallis, Chief Investment Officer, Wealth Management Key Trends As “exit multiples” – i.e. the multiples paid for venture-backed…
IRS Issues Tax Relief for Victims of Tennessee Tornadoes
On Friday, March 6, 2020, the IRS announced a tax relief to aid recent victims of the tornadoes that devastated…
Shadow Lending’s Rise Opens New Access to Capital
Once relegated to the dusty niches of capitalism, shadow lending has become a viable and sought-after source of capital that’s…
Recent Guidance on Meals & Entertainment Expenses May Impact Your Bottom Line
One of the most notable changes to come out of the new tax law passed in 2017 was the significant…
Do You Own 10% or More in a Foreign Business? If so, Form BEA-10 is Due Soon!
What is Form BEA-10? Form BEA-10 is required by the U.S. Department of Commerce. The purpose of the form is…
Michigan Court of Appeals Tells Tax Tribunal to Consider Income Tax Nexus in Light of Wayfair
A few jurisdictions have begun to enact Wayfair-type economic nexus rules for income tax purposes, but this Michigan case raises…
Washington Court Holds that Fees for Access to Online Research Library are Taxable as a Digital Automated Service
As businesses provide more products/services using technology, determining the proper sales/use tax treatment is more difficult given varying state classifications…
Texas Revises Policy on the Inclusion of Net Gains in the Gross Receipts Factor
Several years after a Texas Franchise Tax case determined that only net gains, but not net losses, are included in…
New York Tax Appeals Tribunal Rules that Gift Card Promotion Does Not Reduce Sales Tax Value
The application of sales/use tax to a particular transaction often depends on the form in which that transaction is structured,…
Are Virtual Game Economies Now Taxable? The IRS Clarifies Reporting Requirements for Virtual Currencies in Online Gaming
By Mitchell Kopelman and Maggie Crow The taxability of virtual currency has been a hot topic for the IRS recently. In October 2019,…
Why Your Business Should Establish a Corporate Foundation
The Corporate Foundation: AMPLIFYING THE IMPACT OF YOUR PHILANTHROPIC INITIATIVES As the lines continue to blur between philanthropic and corporate…
Firm Mattresses? Yes. Firm Financials, Not So Much
Steinhoff International Holdings NV (Steinhoff), which owns well-known mattress retailer Mattress Firm, was recently recognized as one of the worst…
The Devil is in the Details (of the Contract): U.S. Tax Court Upholds the Current Definition of “Funded” Research
By Carli Huband, Partner-in-Charge, R&D Tax Credit Services and Maggie Crow, Senior Technical Writer When it comes to qualifying for…