Insights

If you have received or may receive a PPP loan, you should consider how the use of the loan proceeds may impact your ability to take a deduction for certain expenses on your 2020 tax return.

The IRS issued Notice 2019-6 which provides that the requirement to report partners’ capital accounts on the tax basis method will not be effective.

IRS regulations have been released concerning the tax treatment of charitable contributions in exchange for state and local tax credits.

Learn more on the IRS deadline extensions issued April 9, 2020 effecting 1031 like-kind exchanges and opportunity zone investments.

Please note, the due date for filing Form 114, Report of Foreign Bank and Financial Accounts (FBAR), was April 17, 2018.

Key takeaways from the Consolidated Appropriations Act 2020. Learn how these provisions may affect your business or organization.

Learn more on potential PPP loan forgiveness, the expected timeline, qualifying expenses and organizing necessary documentation.

The IRS amplifies relief providing an almost comprehensive postponement to July 15, 2020, for federal tax returns, payments, and other time-sensitive acts.

Learn more on what is due on April 15, as many states have postponed filing or payment deadlines in the wake of the COVID-19 crisis.

Learn more on the expanded guidance on the Paycheck Protection Program (PPP) that may allow you to reconsider applying, if you had originally not qualified.