RECENT POSTS
2025 California Wildfire Tax Relief
The following summarizes some of the available tax relief procedures for taxpayers affected by the Palisades, Eaton, Hurst, and other Los Angeles County wildfires. Answers to commonly asked disaster-related tax questions are also below: Income
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
2020 Ballot: California’s Propositions 15, 19 Amend Tax on Real Property
Of the twelve statewide ballot propositions certified to appear on the ballot for the upcoming election on November 3, 2020, two seek to amend the taxation of real property in California. Before diving into the
Executive Order on Deferring Payroll Taxes – Frequently Asked Questions
On August 8, 2020, the President issued a Presidential Memorandum directing the Secretary of the Treasury to use his authority to defer withholding, deposit, and payment of certain payroll tax obligations (the “Executive Order”). On
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
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
The CARES Act and Retirement Plan Changes
Congress passed and the President signed on March 27, 2020 the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”). The Act includes several significant provisions, most notably cash payments to many taxpayers and
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,