Revenue recognition for franchisors
In May 2014, the FASB issued new revenue recognition guidance that replaces most pre-existing revenue recognition guidance, including industry-specific guidance, in U.S. GAAP.
Read this Insight...What Is an S-Corp Election?
Business owners often struggle with determining the optimal legal structure and tax treatment for their business. This video will explain an S-Corp tax election and how it may benefit you and your business.
Read this Insight...IRS Grants Failure to File Penalty Relief for 2019 and 2020 Returns
Executive Summary The IRS released Notice 2022-36 providing relief for certain taxpayers from certain failure to…
Read this Insight...The Price of War: Risks Around the Inflation Outlook
While we expect the annual inflation rate to peak this quarter as comparisons to the lower…
Read this Insight...Congress Open to Considering a Pause on Automated Tax Notices
National Taxpayer Advocate, Erin Collins, recommends the IRS pause automated collection notices. Congress may consider the recommendation.
Read this Insight...Tax Policy Update: How the Build Back Better Act Affects Individuals
RSM’s policy and national tax teams give insight on how the Build Back Better Act will affect family offices and higher income individuals.
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