The IRS released an advance version of Rev. Rul. 2021-2, which is consistent with a legislative change allowing taxpayers to deduct otherwise deductible expenses paid with the proceeds of a Paycheck Protection Program (PPP) loan that is forgiven...
On August 8, 2020, President Trump issued an executive order directing the Secretary of the Treasury to permit employers to defer the withholding and deposit of certain payroll tax obligations.
On Tuesday, July 14, the Internal Revenue Service (IRS) released Notice 2020-56 (the Hospital Relief Notice), which provides an additional postponement of requirements with respect to the conduct of a community health needs assessment (CHNA...
In April, the Internal Revenue Service (IRS) provided relief regarding certain filing, payment, and other time-sensitive action deadlines in the wake of the COVID-19 pandemic.
On Friday, June 12, the Internal Revenue Service (IRS) released Notice 2020-49 (the NMTC Relief Notice), which provides extensions for certain time-sensitive actions related to the new markets tax credit (NMTC) for community development...
On Thursday, June 4, the Internal Revenue Service (IRS) released Notice 2020-39 (the OZ Relief Notice), which provides certain forms of relief for opportunity zone (OZ) investors, qualified opportunity funds (QOFs), and qualified opportunity zone...
With massive changes happening on a day-to-day and even hour-by-hour basis around the globe, no doubt uppermost in your mind are the health and safety of you and your loved ones.
On Friday, April 10, the IRS released Notice 2020-23 (the Extension Notice), which extended certain deadlines for federal tax-related obligations that fall on and between April 1 and July 14 of this year.
In general, under current law, one who donates cash or property to charity may claim a tax deduction if the donor itemizes deductions in determining his or her tax liability.
Like the rest of the business community, emerging startup companies are being presented with new and unexpected challenges brought on by the coronavirus pandemic.