We focus on providing you with a variety of resources that you may find valuable. LevitZacks’ team of experienced professionals are actively monitoring regulatory and legislative changes and, in addition to our regular Tax Briefings, Tax Alerts and up-to-date Newsletters, we update this resource center with relevant information of particular interest to our clients.

Regulatory Updates

Accounting for ASC 842, Leases Webinar

Join us for a discussion of Accounting Standards Update 2016-02, Leases (Topic 842) presented on August 31, 2022. The purpose of this webinar is to provide an overview of the accounting and reporting challenges that the new guidance will impose on companies which prepare financial statements in accordance with generally accepted accounting principles (GAAP). Under ASC 842, with some exceptions, all leases are recorded on the balance sheet.

ASC 842 – Leases – Webinar

ASC 842 – Leases – Slide Deck

Our Firm’s Regulatory Briefings:

It’s Finally Here: ASC 842 Leases Effective Now for Many Entities (7/13/22)

Legislative Updates

Our Firms Legislative Briefings:

Biden Signs Inflation Reduction Act of 2 022 (8/18/22)

COVID-19 Resources

Updated webinar, presented on March 2, 2021, by Victor Ramsauer, CPA, President/CEO/Shareholder of LevitZacks, CPAs, to the California Lawyers Association. Victor provided an overview of the CAA and the Economic Aid Act signed into law on December 27, 2020. He shared the changes for PPP, the PPP Round 2, Employee Retention Credits (ERC) and other provisions of the acts.

LevitZacks’ CAA and Economic Aid Act Webinar, presented on January 20, 2021, by Victor Ramsauer, CPA, President/CEO/Shareholder of LevitZacks, CPAs, who provided an overview of the CAA and the Economic Aid Act signed into law on December 27, 2020. He shared the changes for PPP, the PPP Round 2, Employee Retention Credits (ERC) and other provisions of the acts. A short Q & A session follows the presentation.

Our Firm’s Briefings:

President Signs $1.2 Trillion Bill (11/22/21)
Infrastructure Bill Tax Provisions Include ERC Termination (11/8/21)
Notice provides information on claiming the employee retention credit for third and fourth quarters of 2021 (8/10/21)
California Elective Pass-Through Entity Tax Bill Awaits Governor’s Signature (7/19/21)
President’s Budget Contains Many Tax Proposals (6/2/21)
SBA Stops Accepting New PPP Applications from Most Lenders (5/5/21)
SBA Administrator Guzman Announces Application Opening for $28.6 Billion Restaurant Revitalization Fund (4/28/21)
California’s Partial PPP Conformity Bill Sent to Governor (4/26/21)
President Signs PPP Deadline Extension (3/31/21)
Senate Passes PPP Deadline Extension (3/25/21)
IRS and FTB Extend Individual Tax Filing and Payment Deadline (3/18/21)
President Signs American Rescue Plan Act of 2021 (3/12/21)
Highlights of the American Rescue Plan Act of 2021 (3/9/21)
Senate Passes Amended $1.9 Trillion Stimulus Bill, House to Vote on Bill Tuesday, 3/9/21 (3/8/21)
Tax Provisions in the American Rescue Plan Act (3/1/21)
House Passes $1.9 Trillion Stimulus Bill with a Variety of Small Business Relief (3/1/21)
PPP Processing Delays Continue (2/23/21)
Updated PPP Loan Forgiveness Applications and Rules Unveiled (1/20/21)
PPP Calculation Guidance Released (1/19/21)
Guidance Issued for PPP First-draw Loan Increases, Reapplications (1/14/21)
PPP Application Forms Released (1/11/21)
Date Set for Limited PPP Reopening (1/8/21)
New PPP Guidance Issued by SBA, Treasury (1/7/21)
PPP2 Provides Relief and Great News on Deductibility of Forgiven Expenses (12/22/20)
IRS Releases PPP Deduction Guidance (overturned) (11/18/20)
Borrowers Receiving $2 Million or More in PPP Loan Proceeds, SBA Releases Loan Necessity Questionnaire (11/7/20)
SBA Clarifies Deferral Period for PPP Loan Payments (10/8/20)
PPP Change in Ownership Guidance from the SBA (10/7/20)
Guidance Issued on Payroll Tax Deferral (8/31/20)
Additional Interim Final Rules Provided for PPP Forgiveness (8/25/20)
Great, I got my PPP loan, now how do I account for it (7/20/20)
5 Reasons Borrowers Shouldn’t Rush Their PPP Forgiveness Applications (7/16/20)
House Joins Senate in Approving 5-Week PPP Extension (7/2/20)
PPP Recipients Can Apply Early for Loan Forgiveness, SBA Says (6/25/20)
PPP Updated Loan Forgiveness Applications Released by the SBA (6/17/20)
PPP Forgiveness Changes Coming as Senate Passes House Bill – President Expected to Sign (6/4/20)
Additional PPP Guidance Issued Friday Night by the Treasury and SBA (5/26/20)
PPP Loan Forgiveness Calculator and FASB Revenue Recognition Extension (5/21/20)
SBA and Treasury Release PPP Loan Forgiveness Application and Instructions (5/16/2020)
Great news! The Treasury adds question and answer #46, clarifying guidance on PPP loan forgiveness (5/13/2020)
Safe Harbor Deadline to Return PPP Loan Proceeds Extended to May 14, 2020 and Forgiveness Documentation Checklist Link (5/6/2020)
House Approves Additional PPP Funding (4/24/2020)
Updated links 4/3/20 Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) Applications Update (4/1/2020)
CARES Act – Paycheck Protection Loans and more (3/28/2020)
CARES Act Passes in the House (3/27/2020)
Senate Passes $2.2 Trillion Bill to Support Economy (3/26/2020)
Extended Deadline for Filing and Paying Taxes Announced (3/22/2020)
Tax Relief Under the Families First Coronavirus Response Act (3/19/2020)
Letter from our President and CEO, Victor Ramsauer, CPA (3/18/2020)

Small business loans and resources

Employee and employer paid leave resources

Miscellaneous resources

We are here to serve you, our valuable clients. Please reach out to your engagement team leader if you would like to discuss any of the above topics in more detail and how they may impact you and your business.

This information has been provided for informational purposes only and not actual professional tax and/or accounting advice. Before making any decision or taking any action you should consult with your professional advisor about your specific situation.