With remote operations in place, organizations face mixed IT environments that could raise new concerns as they maintain operations. The necessity of teams working remotely while under lockdowns can put new strains on data management and security even in the cloud. Whether an organization previously established a cloud-based infrastructure or is accelerating a migration plan, […]
Archives for May 2020
Final regs. clarify when interest in corporation is stock vs. debt
News Corporations & Shareholders By Dave Strausfeld, J.D. {:else} {timeSince} {/if} {@if cond=”{isCGMA}”} {:else} {/if} {/.} The IRS on Wednesday issued final regulations (T.D. 9897) regarding the classification of certain related-party interests in corporations as stock vs. indebtedness. The distinction between debt and equity can have important tax consequences because, for instance, a corporation can […]
Proposed rules govern deductions and reporting for restitution
The IRS issued proposed regulations Wednesday (REG-104591-18) on the deductibility of fines, penalties, and certain other amounts after Sec. 162(f) was amended by the law known as the Tax Cuts and Jobs Act (TCJA), P.L. 115-97. The rules expand on the interim guidance in Notice 2018-23. Sec. 162(f), as amended by the TCJA, disallows a […]
COVID-19 IT Layoffs and the Future of Work
Layoffs hit technology jobs in April, too, as the COVID-19 shock wave whacked employment, and organizations may be accelerating their automation plans to protect workers and cut costs. IT organizations had a busy month in March, equipping and supporting office workers who quickly transitioned to a work-from-home set up in the wake of the COVID-19 […]
Migrate to Azure: Save now, be future ready
The global health crisis has transformed the way we work and live. Remote work has surged across industries, and the ability to scale and manage your business from anywhere has become essential. As our customers are moving beyond resolving immediate crisis needs, many are thinking about the next set of IT investments that can set […]
Microsoft Addresses 111 Bugs for May Patch Tuesday
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IRS allows midyear changes to health coverage, dependent care elections
As part of its response to the coronavirus pandemic, the IRS announced Tuesday in Notice 2020-29 that it is permitting increased flexibility for midyear elections under a Sec. 125 cafeteria plan during calendar year 2020 for employer-sponsored health coverage, health flexible spending arrangements (FSAs), and dependent care assistance programs. Elections under a Sec. 125 cafeteria […]
Has AI Failed the Pandemic Test?
In the first real test of AI in a crisis, the results are mixed. While many individual applications are helping, the tech remains immature and unable to address complex public policy issues. One common belief about AI is that it will help solve the most complex problems in the world. A great example is nuclear […]
CIOs Must Now Fortify Business Flexibility and Resiliency
COVID-19 has exposed critical cracks in companies’ digital capabilities, forcing CIOs to bolster their resiliency, responsiveness, flexibility, and adaptation. The pandemic has put companies’ digital maturity to the test and revealed weaknesses and cracks — some of which may have been known a priority but consciously de-prioritized. In hindsight, what digital capabilities would you have […]
Taxpayers must act soon for direct deposit of stimulus payments
The IRS announced Friday that time is running out for taxpayers to go to the Get My Payment website to enter their direct deposit information in order to receive an electronic economic impact payment (IR-2020-92). Taxpayers must enter their bank account information, if needed, by noon on Wednesday, May 13. After that date, any stimulus […]