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In July, the Federal Reserve (“Fed”) released a tool to assist community banks in implementing the Current Expected Credit Losses (CECL) standard for estimating allowances for credit losses.  Referred to as the Scaled CECL Allowance for Losses Estimator, or “SCALE,” the method and related spreadsheet-based tool aim to simplify the

A powerful tax credit designed to encourage construction of energy-producing solar equipment was set to expire next year, before Congress extended its benefits for three more years.  A sister article addresses the tax impact of the commercial solar energy credit, while the discussion below will address this credit’s GAAP accounting

In a rare reversal of policy, the Centers for Medicare & Medicaid Services (CMS) has indicated intent to retain the Inpatient-Only (IPO) list in the CY2022 Outpatient Prospective Payment System (OPPS) proposed rule released on July 19, 2021 (CMS-1753-P).  It appears that CMS is taking a more cautious approach to

Co-authored by Stanley Rose The IRS recently issued guidance clarifying some ambiguities of the Employee Retention Credit (“ERC”). What it lacks in terms of a flashy name (“Notice 2021-49”), it more than makes up for with its length and complexity, and the purpose of this article is to provide a

Originally published by AccountingWeb As a principal with more than 20 years of experience in audit and assurance, Mark Audi, CPA had grown accustomed to the rhythm and workflow of the audit process. But in March 2020, he quickly realized how CPAs work with audit clients and team members changed substantially. In 2020,

MA taxation of NH employees working from home Our State and Local Tax practice leaders shared in an earlier article that NH filed a lawsuit against MA, in response to MA’s decision to tax individuals who previously worked in MA, but began working (for the same employer) from home. (Estimates