There has been much debate among tax professionals concerning the tax issues surrounding the forgiveness of Paycheck Protection Program (PPP) loans authorized under Section 7(a)(36) of the Small Business Act, which was added by the Coronavirus Aid, Relief, and Economic Security Act (CARES A...
IRS Grants Relief for COVID-19 Disruptions on Tax Residency: Time Rules Are Eased for the Substantial Presence Test for Foreign Citizens in the US and the Foreign Earned Income Exclusion for US Citizens AbroadThe IRS provided relief to individuals and businesses whose tax residence might be ...
furnish certain payee statements otherwise required bychapter 61 of the Codewith respect to amounts excluded from gross income by reason of section 7A(i) of the Small Business Act (15 U.S.C. § 631 et seq.) or sections 276(b), 277, or 278 of the COVID Relief Act," the IRS notes...
This only applies if the business will be directly affected. Additionally, the IRS will issue reimbursements as soon as possible. For more information on the corona tax relief from the IRS, click here. Do you need to complete your taxes? During this time, it’s safer to stay indoors and ...
401kForm 8881guidelinegustoincome taxretirementSECUREsmall businesssmall business ownersmall businessestaxtax formstaxes COVID-19 Financial Relief ERC Voluntary Disclosure Program: aka Last Chance To Keep 20% Of Your Unentitled Pandemic Tax Credit Funds ...
Amid rising concerns about a flood of improper Employee Retention Credit claims, the Internal Revenue Service today announced an immediate moratorium through at least the end of the year on processing new claims for the...
The IRS has extended a number of COVID-19 relief measures for qualified opportunity funds and their investors. This relief is welcome news for many, and we’ll bring you up to speed quickly. READ NOW Related Content Qualified Opportunity Zones: Fundamentals ...
Nearly five million consumers will receive the COVID-19 era penalty relief Read article 12/21/2023 By Kristen Dalli IRS unveils new brackets and other tax changes for 2024 Give and save? A tax expert shares the benefit magic of 'gifting.' Read article 11/13/2023 By Gary Guthrie Surprise,...
intimidating and stressful process and silver tax group had my back every step of the way and even… patrick g google review i started an at-home business at the start of covid. my business has grown immensely since then, so i knew it was time i hired true professionals to handle my ...
“Eligible Employers,” defined as those who carry on a trade or business during calendar year 2020 that either (1) fully or partially suspends operation during any quarter in 2020 due to an order from a governmental order relating to COVID-19; or (2) experiences a significant dec...