IRS offers tax help to those facing COVID money troubles(Sunday, Nov. 8, 2020) Deductibility of PPP loan expenses: Tax issues remain at federal and state levels(Friday, Nov. 6, 2020) IRS is resuming issuance of tax balance-due notices(Sunday, Oct. 25, 2020) In the wake of disasters ...
and learn how to: spot the issue with your client; comply with IRS requirements: amend a filed FBAR; file a late FBAR, and see the penalties that can apply for late compliance. FBARs are such a hot-button issue with the IRS that anyone involved in the tax world as a practitioner...
Tax Day now July 15: Treasury, IRS extend filing deadline and federal tax payments regardless of amount owed | Internal Revenue Service [Internet] IRS News Release (2020) [cited 2020 Jun 13]. Available from: https://www.irs.gov/newsroom/tax-day-now-july-15-treasury-irs-extend-filing-dead...
The IRS makes these adjustments every year. While the 2022 federal tax brackets have reflected changes;it's the 2023 changesthat are likely to make more of a difference, according to Armine Alajian, a CPA and the founder of the Alajian Group. "Taxpayers will likely see the effect of the ...
COVID-19: US Tax Considerations Judicial Response to COVID-19 Crisis Reduced IRS Audits and Litigation Potential Securities Litigation Issues Company Earnings Guidance and Market Outreach During the Coronavirus Pandemic Commercial and Financial Agreements ...
IRS COVID19 Stimulus Check Scam Uses Incorrect Address As Phishing Lure Recently we posted about a Small Business Administration spoof that dropped the Remcos remote access trojan and Formbook information stealer. Today we're going to share another COVID
In the ruling, the IRS specifically rejected the use of the tax benefit doctrine to delay the taxable event until the PPP loan is actually forgiven. For example, assume the taxpayer obtained a $ 1 million PPP loan, and during the taxpayer’s covered period, used all $1 million to pa...
IRS Posts FAQs on Paid COVID-19-Related Sick and Family Leave: Employer Tax Credits for Small Businesses Are Provided under the Families First Coronavirus Response ActThe IRS posted FAQs (available at tinyurl.com/y8skgtuq) on the employer tax credits for paid sick...Schreiber, Sally...
IRS Guidance on COVID-19 Tax Credits for Businesses Through Required Paid Leave Programs The FFCRA provides small and midsize employers refundable tax credits that reimburse them, dollar-for-dollar, for the cost of providing paid sick and family leave wages to their employees for leave related to...
IRS Issues Draft Form for Advance Payment of Employer Credits Due to COVID-19 IRS has issued draft Form 7200, Advance Payment of Employer Credits Due to COVID-19, and draft instructions. The form can be used to request an advance of the tax credits for qualified sick and family leave ...