The IRS has issued crucial guidance on procedures to implement tax provisions of the recently enacted CARES Act.
Key Points:
..Allows a five-year carryback for net operating losses (NOLs) generated in 2018, 2019, and...more
Updated guidance relieves most tax deadlines, provides new procedures for claiming tax relief, and addresses communications with the IRS during the widespread shutdown.
...more
The newly enacted CARES Act attempts to lessen taxpayers’ federal income tax obligations and increase their cash flow during the COVID-19 pandemic.
Key Points:
..Allows a five-year carryback for net operating losses...more
Notice 2020-18, expanded by Notice 2020-20, provides welcome economic relief from filing and payment obligations for certain federal taxes; however, traps for the unwary exist.
Tax Deadline – Key Points:
..On March 20,...more
Notice 2020-18 provides welcome economic relief from filing and payment obligations for certain federal income taxes; however, traps for the unwary exist.
Tax Deadline – Key Points:
..On March 20, 2020, the Internal Revenue...more
3/26/2020
/ Coronavirus/COVID-19 ,
Corporate Taxes ,
Filing Deadlines ,
Income Taxes ,
IRS ,
Office Closures ,
Popular ,
Relief Measures ,
State of Emergency ,
Tax Court ,
Time Extensions
The IRS is considering future guidance that could present opportunities for R&D phase businesses.
In a statement issued on September 25, 2018, the Internal Revenue Service (IRS) announced that it is studying the active...more
Tax law change is good news for non-corporate investors.
On December 18, 2015, President Obama signed the Protecting Americans from Tax Hikes Act of 2015 (the PATH Act) into law. The PATH Act retroactively renews and...more