VPTax News & Content
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State income tax law changes for the third quarter of 2023
(authored by RSM US LLP) A summary of state and local income tax updates enacted during the quarter ending Sept. 30, 2023, which may impact deferred tax provisions.
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What to do if you filed an employee retention credit claim with the IRS
(authored by RSM US LLP) ERC submissions are under scrutiny by the IRS due to a surge in questionable claims. Are you confident your claim meets the eligibility requirements and can stand up to a potential audit?
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IRS halts employee retention credit processing
(authored by RSM US LLP) The IRS has temporarily halted processing of employee retention credit claims and will provide additional guidance for businesses.
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IRS extends tax filing deadline for Hurricane Idalia victims
(authored by RSM US LLP) IRS grants disaster relief to hurricane victims in Florida. Affected taxpayers have until Feb. 15, 2024, to file returns and make payments.
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IRS rules on treatment of cryptocurrency validation rewards
(authored by RSM US LLP) In a recent revenue ruling, the IRS stated that blockchain validation awards such as digital coins created by a computer algorithm are gross income to a cash-basis taxpayer at the time of receipt
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IRS clarifies employee retention credit guidance
(authored by RSM US LLP) IRS guidance addresses full or partial suspensions of operations due to supply chain disruption for ERTC and erroneous ERTC refunds.
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IRS provides guidance for required minimum distributions for SECURE 2.0 Act
(authored by RSM US LLP) Notice 2023-54 provides transition relief and guidance relating to certain required minimum distributions based on SECURE 2.0 changes.
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New Jersey enacts most significant tax changes in years
(authored by RSM US LLP) New Jersey corporations should take note of the sweeping amendments to the corporate business tax code.
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ASC 740: Q2 2023 provision considerations
(authored by RSM US LLP) Tax law and financial reporting considerations for quarterly provisions accounted for under ASC 740.
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Unamortized research costs and loss corporations
(authored by RSM US LLP) How do the new section 174 capitalization rules affect a corporation’s section 382 limitation upon an ownership change?
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