Recent News & Insights
March 27, 2020
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CARES Act: Individual and Business Relief Provisions
March 27, 2020
On March 27, the much-anticipated Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was signed into law.
IRS Q&A Provides Further Details on Filing and Payment Deadline
March 27, 2020
On March 24, 2020, the IRS issued a Q&A related to Notice 2020-18, which extended the deadline for filing income tax returns and making income tax payments from April 15, 2020 to July 15, 2020 due to the COVID-19 pandemic.
Nonprofit & Government Times, Q1 2020
March 27, 2020
Read the current issue of Nonprofit & Government Times with topics including COVID-19 nonprofit resources, additional revenue sources for nonprofits, educating your board about nonprofit accounting and more.
COVID-19 Nonprofit Resources
March 26, 2020
Our list COVID-19 Nonprofit Resources includes a Business Continuity/Disaster Recovery Preparedness Checklist, as well as information on financial assistance available to nonprofits.
GASB Statements Effective for the Year Ended December 31, 2019
March 26, 2020
By: Philip Marciano, CPA
Senior Manager Philip Marciano examines the Governmental Accounting Standards Board (GASB) statements effective for the year ended December 31, 2019.
Not-for-Profit Raffles: Don't Gamble with Federal and State Requirements
By Magdalena M. Czerniawski | Robert Lyons | March 26, 2020
Partner Magdalena M. Czerniawski and Director Robert Lyons discuss the federal and state filing requirements that not-for-profits engaging in raffle activities should be aware of.
A Guide to Proper Reporting and Valuation of In-Kind Contributions
By Joseph J. Kanjamala | March 26, 2020
Partner Joseph J. Kanjamala discusses the requirement for nonprofit organizations to report in-kind contributions on their financial statements.
Footnote Disclosure Overload
By John D'Amico | March 26, 2020
The FASB has had several projects over the years to improve the effectiveness of disclosures in footnotes to financial statements, but it seems that these projects have been somewhat forgotten for nonprofits, writes Partner John D’Amico.
Educating Your Board About Nonprofit Accounting
March 26, 2020
By Matthew Castellano, CPA
Educating your Board about nonprofit accounting is a key way to get more brains from different industries and backgrounds all working toward improving the financial viability of your organization, writes Senior Manager Matthew Castellano.
Additional Revenue Sources for Nonprofits
By Magdalena M. Czerniawski | March 25, 2020
Partner Magdalena Czerniawski examines how reduced government funding has led nonprofit organizations to look for alternative revenue sources.
NY State Agencies Extend Deadline to Submit CFR Forms
March 24, 2020
As usual, annual year-end New York State Consolidated Fiscal Reporting (CFR) forms must be submitted no later than five months after the end of the fiscal reporting period (approximately 150 days).
Federal Economic Injury Disaster Loans for Small Businesses
March 24, 2020
The coronavirus pandemic has severely restricted access to funds for many struggling small businesses and Government authorities have responded by expanding funding options for business owners severely impacted by this disruption.
New York City Loan and Grant Programs Available to Small Businesses Impacted by Coronavirus Pandemic
March 24, 2020
New York City is providing eligible business owners who have been impacted by the coronavirus pandemic sources of capital and employee retention grants.
Emergency Congressional Measures in Response to the Coronavirus Pandemic
March 22, 2020
As the Coronavirus pandemic continues to unfold, Congress has continued to act to mitigate the economic consequences. During the past several weeks, there have important legislative developments related to the pandemic that have either already been enacted or are currently in negotiation.
Business Continuity and Disaster Recovery Preparedness Checklist
March 21, 2020
Download our Business Continuity Checklist for guidance as you identify and address key pandemic planning considerations.
IRS Extends Tax Filing Deadline to July 15, with Unlimited Tax Payment Deferral
March 21, 2020
The Internal Revenue Service provided guidance (Notice 2020-18) on Friday postponing federal tax filing deadlines from April 15 to July 15 for taxpayers affected by Coronavirus Disease (COVID-19) pandemic, aligning the due date with the tax payment deferral.
Treasury Secretary Mnuchin Announces Extension of Federal Tax Filing Deadline to July 15
March 20, 2020
U.S. Treasury Secretary Steven Mnuchin announced that the federal tax filing deadline would be extended from April 15 to July 15. New York State announced that it would be extending its tax filing deadline to July 15 as well.
Alert: Taxpayers Can Postpone Federal Payments Until July 15
March 19, 2020
In response to the coronavirus pandemic, the Treasury Department has issued guidance (IRS Notice 2020-17) allowing taxpayers to delay making certain federal income tax payments until July 15, 2020 without interest, penalties or additions to tax.
Data Analytics Done Right: Successful Adoption of Analytics in Commercial Real Estate
Featured: Dean Boyer | Mar 17, 2020
Dean Boyer, Director in Marks Paneth’s Technology Services Group, discusses the growing applications of data analytics in commercial real estate and outlines best practices for the successful adoption of data analytics as a business strategy.
COVID-19 Preparedness - A Message From Our Managing Partner
By Harry Moehringer | March 16, 2020
We have been closely monitoring the uncertainly caused by the coronavirus (COVID-19) and have taken multiple steps to protect the well-being of our employees, clients and colleagues, while also ensuring that we will continue to meet our clients’ business needs.
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