On Wednesday, July 17, the Financial Accounting Standards Board (FASB), voted proposing a one year delay in the new leasing standard for private companies. FASB is issuing an exposure draft to obtain public comments. Assuming the public does not have significant arguments to the contrary, the new standard will be effective for calendar year 2021.

If you have any questions or concerns about this matter or other related tax matters, please contact your KatzAbosch representative.

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