Insights

Under prior law, business interest expense was generally deductible in the year in which the interest was paid or accrued, except that corporations were subject to certain limitations.

Learn more on how two taxpayers recently learned that they were not entitled to the tax refunds they thought were coming their way.

The CARES Act included a temporary increase of the limitation of the deductibility of business interest under section 163(j).

Listen as our professionals discuss the potential opportunity and uncertainty of business tax losses realized during the coronavirus disaster emergency.

The IRS released Rev. Proc. 2020-29, temporarily allowing the electronic submission of requests for letter rulings, closing agreements, and other advice.

Details on the Florida Department of Revenue extended filing deadlines for certain Florida corporate income tax (“CIT”) payments and returns.

Guidance on taking advantage of the new MSLP, the additional stimulus lending program available to small and medium sized businesses that meet certain criteria.

Learn more on the CARES Act NOL carryback changes providing immediate refunds for corporate taxpayers with taxable income during the carryback time period.

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.

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