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July 28, 2020

IRS issues FAQs on taxation of payments and loans from Coronavirus Relief Fund

On its website, the IRS has issued two FAQs regarding the taxation of payments and loans from the Coronavirus Relief Fund that was established by the […]
July 27, 2020

Charitable Giving in a Time of Crisis

The sudden and severe impact of the novel coronavirus (COVID-19) pandemic has created much financial stress, but the crisis has also generated an intense need for […]
July 10, 2020

President Signs PPP Application Extension Bill Into Law

On July 4, President Trump signed S 4116 into law. The bill extends the Paycheck Protection Program (PPP) loan application deadline until August 8. Background The Coronavirus […]
July 1, 2020

Don’t Forget About Your 2019 Tax Return

Earlier this year, in response to the novel coronavirus (COVID-19) crisis, the IRS postponed numerous federal tax filing and payment deadlines. If you took advantage of […]
June 30, 2020

IRS Explains Economic Impact Payment Tax Implications – Federal Tax Update

In e-News for Tax Professionals, the IRS has explained the tax implications of receiving an economic impact payment (EIP). Background:  As part of the CARES Act, IRS […]

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