The COVID-19 pandemic has created a staggering level of operational and financial challenges for healthcare providers. While the Provider Relief Fund (PRF) provided billions of dollars of stimulus payments to those impacted financially by the pandemic, the stimulus rollout also presented numerous challenges, specifically in the lack of clarity in the PRF’s terms and conditions.
Robinhood Markets, Inc. has been in the news recently for a variety of reasons, and on July 28, 2021, the company made headlines again, this time for its initial public offering (IPO). While the IPO itself was noteworthy, what was maybe more attention grabbing was the fact that Robinhood’s registration statement (Form S-1), filed with the U.S. Securities and Exchange Commission prior to its IPO, included over 75 pages of risks and uncertainties to be considered by investors.
Based on input from GPP, GSEC, the DOR entertainment industry advisory council and MPA, the Georgia Department of Revenue has updated its earlier guidance cutting off COVID-19 testing and other safety expenses on August 1, 2021. Under the new guidance issued today, productions that were in principal photography prior to August 1, 2021 are grandfathered under the old rules until November 1, 2021.
Unresolved IRS tax problems can continue to worsen over time. In addition to penalties and interest accruing, options to dispute tax issues become fewer, making it essential to respond to any IRS notice in a timely manner. In cases where this isn’t possible or was simply overlooked, however, there may still be other options to dispute IRS tax assessments, penalties or collection actions.
Bennett Thrasher is proud to announce that it has been ranked as the 67th largest accounting firm in the U.S. by INSIDE Public Accounting’s 2021 IPA Top 100 Firms, moving up from 72nd in 2020.
Melisa Cook, PCC, SPHR, SHRM-SCP, ELI-MP, joins Bennett Thrasher, one of the nation’s largest and fastest-growing certified public accounting and consulting firms, as the new Chief Human Resources Officer responsible for the 350-employee firm’s human resources department and people experience. Melisa will help to grow the firm’s footprint orchestrating key hires in new and emerging markets and continuing to build upon the firm’s culture of inclusivity and flexibility.
Last year, the Georgia General Assembly enacted legislation HB 1037, which requires new mandatory film tax credit audits in Georgia to be performed by either the Georgia Department of Revenue or an approved external CPA firm. Bennett Thrasher is pleased to be one of the firms approved to perform such audits for 2021.
In an unanticipated response to taxpayer requests, the Puerto Rico Treasury Department (“PRTD”) has removed administrative hurdles to deduct 100 percent of expenses paid to related parties. Section 1033.17(a)(17) of the Puerto Rican Internal Revenue Code of 2011 (“PRIRC”) previously provided that taxpayers could deduct only 49 percent of the expenses paid to affiliates when computing net income for a Puerto Rican taxpayer.
Bennett Thrasher, one of the nation’s largest and fastest-growing certified public accounting and consulting firms, announces the promotions of James Johnson and Mike Reynolds to partner. Johnson and Reynolds provide consulting and advisory services in the firm’s Financial Reporting & Assurance practice.