The Minnesota Legislature recently passed a limited bill that included an important tax change for businesses. This important change is related to IRC section 179. Under this legislation, Minnesota’s section 179 expense will be in conformity with the IRS section 179 expense. Prior to this limited bill, Minnesota only allowed $25,000 of section 179 for […]

Posted by the Journal of Accountancy on October 9: Recipients of Paycheck Protection Program (PPP) loans of $50,000 or less will be able to apply for forgiveness using a simplified application that was released Thursday by Treasury and the U.S. Small Business Administration (SBA). A new interim final rule (IFR) provides new guidance concerning forgiveness […]

The Department of Labor has released final regulations updating the requirements for delivering plan disclosures to participants electronically. These regulations can be relied upon immediately. The regulations allow retirement plan administrators to make certain disclosures available either on a website or to furnish the disclosures directly to a participant’s email address. In order to deliver […]