Under the Corporate Transparency Act (CTA), as of January 2024 many corporations, limited liability companies, limited partnerships, and similar legal entities are now required to report ownership and management information...more
Critical in Cases of Identity Theft or Fraud A news release issued by the Internal Revenue Service (IRS) on July 30, 2021, reminds holders of Employer Identification Numbers (EINs) that a change in responsible party requires...more
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 November 3, 2020, California voters approved Prop 19, which will make several changes to the state’s property tax laws. Among these changes are new restrictions on the applicability of the...more
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
On May 15, 2020, the Small Business Administration (SBA) published a form of the loan forgiveness application for borrowers of Paycheck Protection Program (PPP) loans under the CARES Act. The application provides instructions...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
On January 1, 2013, the House and Senate approved the American Taxpayer Relief Act of 2012 (H.R. 8, as amended by the Senate) (the "2012 Tax Relief Act").
The 2012 Tax Relief Act, signed into law by President Obama on...more