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  • Client Portal
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KBF-Logo_color
  • SERVICES
    • TAX
      • Accounting for Income Taxes
      • Income Tax Planning
      • International Taxation
      • State & Local Tax (SALT)
      • Sales & Use Tax
      • Expatriate Tax & Global Mobility Solutions
      • Payroll & Employment Tax
      • SEC Registrants & Venture-Backed Entities
      • Emerging Growth Companies
      • Research & Development Credits
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      • Closely Held Businesses
      • Private Client Services
      • U.S. Greater China & APAC Services
    • ASSURANCE
      • Middle Market & Venture-Backed Entities
      • Best Practices & Technology Tools
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      • Employee Benefit Plan Audit
    • ADVISORY SERVICES
      • Managed Accounting Services
      • Accounting & Reporting
      • Technical Consulting
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      • Tax & Accounting Due Diligence
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  • ABOUT
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COVID-19

COVID-Related Tax Relief Act of 2020 Implications When Reevaluating Year-End Valuation Allowance for Deferred Tax Assets

By KBF Editorial | January 2, 2021

As the calendar year comes to an end, companies are scrambling to finish their year-end tax planning. Assessing valuation allowances for deferred tax assets (DTAs) is complicated and requires a…

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Current COVID-19 Related Tax Guidance for Oregon, Washington, and California

By KBF Editorial | October 16, 2020

Working remotely has become the new normal for many employees on the West Coast. Although many employees enjoy the convenience of working remotely, both employees and employers need to consider…

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Temporary California Net Operating Loss Suspension Signed into Law

By KBF Editorial | August 5, 2020

History California has at times either restricted the ability of individuals and corporations to utilize the full carryover amount of net operating losses (“NOLs”) or completely suspended net operating loss…

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UPDATE: Portland Metro Council Votes to Refer Payroll Tax to November Ballot

By KBF Editorial | July 21, 2020

On July 16, 2020, the Portland Metro Council unanimously voted to send a $7 billion transportation plan to the November ballot. This tax will impose a payroll tax on employers…

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Determining the Accounting for Loans Under the Payroll Protection Program

By KBF Editorial | June 30, 2020

The question has arisen regarding how to account for loans received by companies under the Payroll Protection Program (“PPP”) of the CARES Act as there are no accounting standards specific…

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Treasury Provides Welcome Grace Period and Transition Relief from Repeal of the “338 Approach” to Recognition of Built-in Gains (but the clock is ticking)

By KBF Editorial | June 23, 2020

On January 14, 2020, the IRS and Treasury provided partial relief from their earlier announcement of the repeal of a highly favorable method of increasing the Section 382 limitation on…

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Companies Continue to Evaluate APB 23 Benefits After Tax Reform; Impact of COVID-19 Related Repatriations on the Indefinite Reinvestment Assertion

By KBF Editorial | June 8, 2020

The general comprehensive rule for providing deferred taxes on book-tax basis differences under ASC 740-10 requires companies to record a deferred tax liability (DTL) for any GAAP outside basis in…

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IRS Issues Flexible Guidance on QIP, bonus depreciation and other favorable elections under CARES Act

By KBF Editorial | May 27, 2020

On April 17, 2020, the IRS released Revenue Procedure 2020-25 (the “Rev Proc”), which provides guidance to enable taxpayers to accelerate their cost recovery of qualified improvement property (QIP). This…

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Recent Posts

  • Michigan Enacts Refundable R&D Tax Credit
  • Navigating State Tax Nexus in the Digital Age
  • R&D Tax Credit Reporting: New Rules, New Requirements
  • Choosing the Right Entity: A Guide for Emerging Growth Companies
  • KBF State Income Tax Newsletter – 4th Quarter 2024

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“KBF” is the brand name under which KBF CPAs – Audit, LLP (“KBF Audit”) and KBF CPAs LLP (“KBF Advisory”) provide professional services. KBF Audit and KBF Advisory practice in an alternative practice structure in accordance with the AICPA Code of Professional Conduct and applicable law, regulations, and professional standards. KBF Audit is a licensed independent CPA firm that provides attest services to its clients, and KBF Advisory provides tax and business consulting services to its clients.

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