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1031–1040
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May 5, 2020
The Small Business Administration recently issued guidance stating businesses that received Paycheck Protection Program loans can exclude laid-off employees from loan forgiveness reduction calculations if the employee turns down a written offer to be rehired for the same salary/wages and number of hours as before.
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May 5, 2020
The IRS recently released guidance via Notice 2020-32 stating taxpayers that receive a loan through the PPP can’t deduct expenses that are normally deductible if those expenses were reimbursed by a PPP loan that was subsequently forgiven.
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April 29, 2020
In an effort to make Paycheck Protection Program loans more accessible to small businesses, the Small Business Administration will allow the smallest lenders and their small business clients an exclusive opportunity to submit applications from 4 p.m. to 11:59 p.m. ET today, Wednesday, April 29.
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April 27, 2020
The IRS has issued a special alert for several groups of federal benefit recipients to act by May 5 if they did not file a tax return in 2018 or 2019 and have dependents in order to quickly receive the full amount of their Economic Impact Payment.
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April 24, 2020
The Treasury Department and IRS recently issued proposed regulations under the Tax Cuts and Jobs Act providing guidance on calculating UBTI for tax-exempt organizations subject to the unrelated business income tax with more than one unrelated trade or business.
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April 20, 2020
For TSCPA members affected by the storms that swept through Tennessee in March and April, the AICPA offers the opportunity to receive financial assistance through its Benevolent Fund.
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April 17, 2020
The IRS has published FAQs on the most common questions regarding the CARES Act Economic Impact Payments.
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April 17, 2020
Working with the Treasury Department, the IRS has launched the new Get My Payment online tool to let taxpayers check on their Economic Impact Payment date and update direct deposit information.
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April 15, 2020
The Small Business Administration recently issued additional guidance for the Paycheck Protection Program, specifically addressing how self-employed and partner income should be included in the loan application.
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April 10, 2020
The Department of the Treasury and IRS have announced that Notice 2020-23 extends additional key tax deadlines for individuals and businesses.
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