Blog | Albin Randall & Bennett
Recent Articles
IRS Issues Final Regulations: UBIT and Calculating UBTI for Separate Unrelated Trades and Businesses
The IRS recently issued final regulations that provide exempt organizations subject to the unrelated business income tax (UBIT) with guidelines for determining whether their organization
ARB is Thankful. . .
What is ARB thankful for this year? 2020 has been a year full of unexpected surprises and developing new norms. However, through the chaos, ARB
Webinar: What Do Football and Construction Firms Have in Common?
Few people thought there would be a 2020 football season. Millions of people are tuning in to cheer on their favorite teams and Monday Morning
Maine’s Business Equipment Tax Programs Can Provide Tax Relief for Eligible Businesses
The State of Maine offers Business Equipment Tax Programs to provide eligible Mainers with tax relief and to encourage capital investment in Maine. The Business
ARB Places 4th and 9th in MECPA Exercise Challenge
On November 15th, Albin, Randall and Bennett finished the last day of the six-week “Commit to Fit” challenge hosted by the MECPA. With only six
IRS Issues Revenue Ruling on Deductions Related to PPP Loan Forgiveness
The IRS has issued Revenue Ruling 2020-27, which sets forth the IRS’s position on the timing of the disallowance of deductions related to Paycheck Protection
Biden Administration Changes the PPP
Since the Paycheck Protection Program (PPP) reopened in December 2020, nearly $135 billion of the $284 billion of allocated funding has been lent to small
Is Your Organization Subject to a Single Audit This Year?
Government funding has provided for-profit businesses and nonprofit organizations with a lifeline during the coronavirus pandemic. Those funds kept many doors open for business and
Are You Eligible for Maine’s Educational Opportunity Tax Credit?
Maine’s Educational Opportunity Tax Credit (EOTC) is an incentive program that may benefit Maine-resident taxpayers paying off student loans and working in the State of
Governor Mills Proposes Solution to Maine’s PPP Tax Conformity Issue
The Mills Administration proposed a compromise to lawmakers to solve the Maine’s issues with conformity to federal tax treatment of Paycheck Protection Program (PPP) funds.
Partnership Tax Capital Reporting Requirements & Penalty Relief for 2020
In a continued joint effort to streamline the Tax Capital Reporting Requirement for partnerships, The U.S. Treasury and IRS recently provided additional penalty relief for