On March 17, the IRS granted taxpayers an automatic filing and payment extension of 2020 individual income tax returns to May 17, 2021. As of right now, this delay only applies to federal income tax filings for individuals,...more
As many businesses that applied for loans under the Paycheck Protection Program (PPP) are now receiving funding, questions are arising as to whether business expenses paid with forgiven PPP loan proceeds would also be tax...more
New rules that change the way that partnership entities are audited took effect on January 1, 2018. Partnership entities include all entities that are taxed as partnerships under federal tax law, including traditional...more