The federal government has set the stage for historic investments in infrastructure and clean energy and for-profit organizations can benefit.
The Incurred Cost Submission (ICS) Process Checklist
Government contractors operate in a highly regulated industry, so it’s critical to understand all applicable requirements for your contracts.
Business Tax Implications of the Inflation Reduction Act (IRA)
The Inflation Reduction Act creates minimum corporate tax and pushes for renewable energy investments by businesses. Read more here.
Are You Up to Date on the New OFCCP Contractor Portal Certification Requirement?
The Government Accountability Office (GAO) found that many contractors have not been preparing (or maintaining) AAPs. As a result, the OFCCP has developed a new online portal, referred to as the Contractor Portal, where contractors must certify on an annual basis whether they are meeting their requirements to develop and maintain AAPs.
ASC Topic 842 and Its Impacts on Government Contracting
Now is the time for government contractors to familiarize themselves with the new standard, mitigate the impact of resource constraints on implementation, navigate the allowability of costs, and otherwise move past hurdles to prepare for compliance.
Navigating the IRS Backlog
The start of a new tax filing season often brings with it longer hold times with the IRS, as taxpayers and their tax preparers inundate phone lines with questions and concerns. But the 2022 filing season promises to be particularly challenging…
Treasury Releases Final Rule for COVID State, Local Fiscal Recovery Funds
he Department of Treasury aimed to provide local governments with added flexibility in the implementation of the SLFRF’s intended purposes of increasing resilience against the ongoing threats of the pandemic, supporting families and businesses struggling with its public health and economic impacts, maintaining and sustaining vital public services, and facilitating a sustainable, equitable recovery through investments building long-term growth and opportunity.
Are You Taking Advantage of The Employee Retention Tax Credit?
Over the past nearly two years, businesses across the country, and the world, have been severely impacted by COVID-19. Throughout the course of the pandemic there have been numerous local, state, and national level legislative changes and implementations to aid in the...
2021 State & Local Tax Year-End Issues To Consider Now
State and local governments are revisiting taxpayer compliance with nexus rules and other tax policies, considering new taxes on digital services and reconsidering conformity with federal tax rules and legislation in an effort to rebuild their economies. The following...
How to Boost Tax Deductions By Retroactively Adopting A Workplace Retirement Plan
Employers who could use a federal income tax deduction for 2020 can consider retroactively adopting a broad-based, tax-qualified retirement plan, such as a discretionary profit-sharing plan, cash balance plan or traditional pension plan and making employer...