Insights

More information is available about audit requirements of Provider Relief Funds including answers on when should expenditures and/or lost revenue be reported on SEFA and how to determine the amount.

Attention: Microsoft has released an out-of-band security update addressing the Windows Print Spooler Remote Code Execution, fixing the issues from the PrintNightmare vulnerabilities.

Repayment of Paycheck Protection Program (PPP) loans will begin this month for early borrowers. Approximately 71% of total PPP loan borrowers have yet to apply for forgiveness.

The HHS PRF Reporting Portal is now open. On the portal there are a few new resources for which we have included links below. New guidance was also released to provide more detailed information on how to use the reporting portal.

A qualified charitable distribution (QCD) is a direct transfer of funds from your IRA custodian, payable to a qualified charity. QCDs can be counted toward satisfying required minimum distributions (RMDs) for taxpayers over age 70 1/2.

In the wake of COVID-19, faith-based organizations are almost universally facing a T2 deficit. They’re running low on time and treasure. Restoring these essentials to pre-pandemic levels is a great goal, but achieving it may be more challenging than you think.

As cryptocurrency seems to be gaining in popularity, there are a couple of issues we believe investors should know about before getting involved with one or more of the proliferating number of cryptocurrencies, such as Bitcoin, Ethereum, and Litecoin

On June 11, 2021, HHS issued a Press Release that announced the Provider Relief Fund (PRF) reporting portal will now be open on July 1, 2021. HHS also provided a new reporting matrix, which is included in this article.

State governments provide services largely by using taxes paid by their residents and others doing business ion the state. Take a look at some of the comparisons across contiguous states.

Tax proposals are flowing out of Washington, D.C. almost weekly. The most recent proposals (at the time of drafting this article) were those included in a Department of the Treasury May 2021 document titled “General Explanations of the Administration’s Fiscal Year 2022 Revenue Proposals.”

Companies view the importance of social, climate and other non-financial factors as crucial for long-term viability and success. A survey by the World Economic Forum found 86 percent of executives agreed that reporting on a set of universal ESG disclosures is important and would be useful for financial markets and the economy.

Dean Dorton Allen Ford, PLLC (Dean Dorton) today announced  the formal retirement of Doug Dean from public accounting. Doug was the founder of Dean Dorton and continues to serve as a tax director. Doug’s last day with the firm will be June 30, 2021.