The IRS released an advance version of Rev. Rul. 2021-2, which is consistent with a legislative change allowing taxpayers to deduct otherwise deductible expenses paid with the proceeds of a Paycheck Protection Program (PPP)...more
2/16/2021
/ Business Expenses ,
Business Taxes ,
CARES Act ,
Consolidated Appropriations Act (CAA) ,
Coronavirus/COVID-19 ,
IRS ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
Revenue Procedures ,
Revenue Rulings ,
Tax Deductions
On August 8, 2020, President Trump issued an executive order directing the Secretary of the Treasury to permit employers to defer the withholding and deposit of certain payroll tax obligations. In response, the Treasury...more
The Paycheck Protection Program established by the CARES Act provides for loans to small businesses affected by COVID-19 to cover payroll and other costs for a period of eight weeks. The recipient of a covered loan may use...more
The Tax Cuts and Jobs Act, just approved by Congress and headed for President Trump’s signature, substantially modifies the limitation on corporate deductibility of executive compensation under Section 162(m) of the Code. The...more
Recently the IRS issued guidance in the form of temporary and proposed regulations clarifying that individuals who are partners in a partnership that itself owns a disregarded entity are not to be treated as employees of the...more
For a second time, federal banking regulators are seeking comment on a jointly proposed rule that would impose restrictions on incentive-based pay arrangements....more
On July 1, 2015, the Securities and Exchange Commission proposed long-awaited rules to implement provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 mandating any company whose securities are...more
On April 29, 2015, the Securities and Exchange Commission announced the long-awaited proposal to disclose the relationship between executive pay and a company’s financial performance (the Pay to Performance Proposal)....more
On October 4, 2013, Governor Brown signed into law California Assembly Bill 1412 (Stats. 2013, ch. 546) ("AB 1412"), which provides tax relief to those individual taxpayers affected by the decision in Cutler v. Franchise Tax...more
Following the United States Supreme Court’s recent decision recognizing same-sex marriages [United States v. Windsor, 570 U.S. __, 133 S.Ct. 2675 (2013)], on August 29, 2013, the Internal Revenue Service issued Revenue Ruling...more
Will Employers Face a Surge in Enrollment?
Employers start by asking one big question. Are they currently excluding a significant number of employees to whom they now will need to offer coverage? For many, the answer...more
Your Guide to Understanding the Terms, Meeting the Requirements and Avoiding the Penalties -
NOTE: The following article is the first of a three-part series, “Employer Responsibility for Health Coverage: Are You Ready...more
On December 28, 2012, the Internal Revenue Service (IRS) issued proposed regulations providing guidance with respect to employer shared responsibility regarding health coverage under the Affordable Care Act of 2010 (ACA). ...more
On December 21, 2012, the Franchise Tax Board ("FTB") released Notice 2012-03 (the "FTB Notice"), which notice outlines the procedures the FTB will apply in response to the Court of Appeal's recent decision in Cutler v....more