The Coronavirus Aid, Relief and Economic Security (CARES) Act provides two measures of relief to taxpayers, but taxpayers amending federal income tax returns should be aware these benefits may not reach their state income tax...more
6/8/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
Federal Loans ,
Internal Revenue Code (IRC) ,
Net Operating Losses ,
Paycheck Protection Program (PPP) ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Small Business ,
Tax Planning
Following the US Supreme Court’s denial of cert in Nextel, taxpayers with protective refund claims held pending the ultimate outcome of Nextel will need to re-evaluate their claims as Pennsylvania begins to address them...more
Federal tax reform will have a significant and possibly unexpected impact on state taxes, including on individual deductions and, for corporations, reporting methods and limitations regarding net operating losses and interest...more