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17 Jan 2020
Tax on Transit Benefits for Exempt Organizations Officially Repealed
On December 20, 2019, as expected, the President signed into law H.R.1865 – Further Consolidated Appropriations Act, 2020. Buried on the last page of the text was a repeal of Section 512(a)(7); a part of the Tax Cuts and Jobs […]
25 Jan 2018
Tax on Executive Compensation Over $1 Million May Impact Your Organization
One of the headline pieces of the Tax Cuts and Jobs Act of 2017 that impacts Tax-Exempt Organizations is the excise tax on compensation paid to certain employees in excess of $1 million. The tax generally applies only to compensation […]
20 Mar 2020
Tax News: Treasury Announces Delay in Tax Payment and Filing Deadline
Published on March 20, 2020 Notice 2020-18 provides clarification on the expanded relief provided. Any person, defined as an individual, trust, estate, partnership, association, company, or corporation, with a Federal income tax payment or return due April 15, 2020, is affected […]
01 Apr 2020
Tax Implications of the CARES Act
Published on April 1, 2020 On March 27, President Trump signed into law the Coronavirus Aid, Relief and Economic Security Act, known as the CARES Act. The product of a swift bipartisan effort, the CARES Act is designed to provide […]
01 Apr 2020
Tax Implications of the CARES Act
On March 27, President Trump signed into law the Coronavirus Aid, Relief and Economic Security Act, known as the CARES Act. The product of a swift bipartisan effort, the CARES Act is designed to provide economic relief for businesses and […]
01 Dec 2020
Tax Deductibility of PPP Loan Expenses
To stay updated on this topic, review the January 2021 COVID-19 article. Since the establishment of the Small Business Administration’s Paycheck Protection Program (PPP) earlier this year, there has been uncertainty regarding how the income and expenses related to these […]
23 Mar 2021
Tax Deadline Extension to May 17 Applies to Individuals
On March 17, 2021, the Internal Revenue Service officially delayed the individual tax filing and payment deadline until May 17. The much-anticipated delay marked the second consecutive year the IRS has postponed the filing deadline citing unusual economic disruptions related […]
21 Dec 2017
With President Trump signing the “Tax Cuts and Jobs Act” on Friday, we are witnessing the most significant change to the tax code since 1986. The bill passed in the House Tuesday (227-203) and then passed in the Senate (51-48) early Wednesday morning. Due […]
15 Dec 2021
Take Action Now and Prevent a Cybersecurity Attack
Take Action Now and Prevent a Cybersecurity Attack The insurance industry continues to evolve and innovate to improve products and serve customers with new technologies. At the same time, criminals are improving their methods to exploit the vulnerabilities of these […]