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IRS Releases Guidance Regarding Deductibility of PPP Loan-Related Expenses

When the Paycheck Protection Program (PPP) was introduced as part of the CARES Act in March, the law provided that any loan forgiveness would not be included in taxable income.

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Good News for PPP Loan Recipients Regarding Deferral of Payroll Taxes

The IRS released FAQs on Sec 2302 of the CARES Act, Delay of Payment of Employer Payroll Taxes. This provision generally provides that employers may defer the deposit and payment

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IRS Issues Additional Relief Measures

Late Thursday afternoon (April 9), the IRS issued News Release 2020-66, in which they announced that Notice 2020-23 extends additional key tax deadlines for individuals and businesses. The notice, which

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IRS & ADOR Operations – Beyond the Postponement of Payments and Filing until July 15

Much attention has already been given to the postponement from April 15 to July 15 of certain payments of tax and filings. The Internal Revenue Service (IRS) announced this postponement in Notice

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Tax Updates for 2020

As we approach the holiday season, it looks like enough of us have made the Nice List for the IRS to leave us some small gifts in our stockings for

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Initial Opportunity Zones Takeaways from the IRS’ Most Recent Release

Read these quick facts about the IRS’ additional guidance relating to investments in Opportunity Zones.

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Dangerous W-2 Phishing Scam Evolving

  The IRS and state tax agencies have issued an urgent alert to all employers regarding a Form W-2 phishing scam. This scam is particularly concerning given the sensitive information

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The New IRS Partnership Audit Rules – Significant Changes on the Horizon Require Attention

  Written by Steven N. Smith, CPA, JD The Bipartisan Budget Act of 2015, enacted on November 2, 2015, includes significant changes in IRS rules regarding the tax examinations of

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