RECENT POSTS
Feds Mandate Legal Entity Reporting
As of Jan. 1, 2024, the Corporate Transparency Act goes live. The CTA creates a national database of information concerning individuals who, directly or indirectly, own a substantial interest in, or hold substantial control over,
COVID-Related Tax Relief Act Summary
(As of December 22, 2020) Congress passed the $900 Billion COVID-Related Tax Relief Act of 2020 (“COVIDTRA” or “the Act”) as part of the Consolidated Appropriations Act of 2021, on December 21, 2020. As of
IRS Announces Taxpayers May Not Claim Deduction for Expenses Paid by Forgiven PPP Loans
Additional Paycheck Protection Program Guidance Announced The Internal Revenue Service recently issued guidance stating taxpayers may not deduct otherwise deductible expenses that are paid with the proceeds of a Paycheck Protection Program (“PPP”) loan, if the payment
Senate Green Lights Additional Funding in Coronavirus Relief Package
On April 21, 2020, the Senate passed a $484 Billion relief package (the Paycheck Protection Program and Health Care Enhancement Act; the “Act”). The House is expected to pass the Act on Thursday. The President
More Highlights of the Coronavirus Aid, Relief, and Economic Security Act (Part 2 of 2)
Earlier we posted Part 1 highlighting certain aspects of the CARES Act (Coronavirus Aid, Relief and Economic Security Act), which the federal government enacted to provide financial relief to individuals and businesses experiencing economic hardships
Highlights of the Coronavirus Aid, Relief, and Economic Security Act (Part 1 of 2)
On March 27, 2020, the President signed into law the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”), which is intended to provide financial relief to people and businesses in response to the
Tax-Free Payments Allowed to Employees Because of COVID-19 Pandemic
On March 13th, President Donald J. Trump issued an emergency declaration under the Robert T. Stafford Disaster Relief and Emergency Assistance Act (the “Stafford Act”) in response to the ongoing COVID-19 pandemic. As a result
California and Federal Taxes: COVID-19 Delayed Filing Notices
Due to the Coronavirus pandemic, the Treasury Department and the Internal Revenue Service announced March 21, 2020 that the federal income tax filing due date is automatically extended from April 15, 2020, to July 15,