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
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 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