Rev. Proc. 2020-23 eases restrictions on partnerships’ ability to file amended tax returns and issue amended Schedules K-1 in order for their partners to avail themselves of the retroactive tax relief provided by the CARES...more
The Coronavirus Aid, Relief, and Economic Security Act (the CARES Act) relaxes the section 163(j) business interest expense limitation for tax years beginning in both 2019 and 2020. Intended to help taxpayers incurring...more