The Coronavirus Disease 2019 (COVID-19) stimulus package signed into law by President Trump on Dec. 27 contains significant enhancements to the employee retention tax credit enacted under the CARES Act.
Continue Reading Employee Retention Tax Credit Enhanced and Extended by COVID-19 Stimulus Package
On Dec. 21, 2020, Congress passed a COVID-19 relief bill (the Consolidated Appropriations Act, 2021) including the Taxpayer Certainty and Disaster Tax Relief Act of 2020, which would provide much-anticipated
Continue Reading Taxpayer Certainty and Disaster Tax Relief Act of 2020: Spotlight on the Proposed Extensions of Certain Alternative Energy Tax Credits
With the possible advent of widespread regional Coronavirus Disease 2019 (COVID-19) lockdowns around the United States, it is an appropriate time for a reminder about the availability of the 50%
Continue Reading Employee Retention Tax Credit Available to Businesses Because of New Lockdowns
The IRS has announced that lenders should not file tax information returns to report forgiveness of debt on Paycheck Protection Program (PPP) loans. Lenders should take special care with respect
Continue Reading Lenders Should Not Report PPP Loan Forgiveness to IRS or to Borrowers
On Budget Day, 15 September 2020, the Dutch Ministry of Finance presented its 2021 tax plan. For the proposed bills to have effect, they first must be approved by Parliament.
On July 17, 2020, the Board of Governors of the Federal Reserve System (Federal Reserve) announced the terms of an expansion of the Main Street Lending Program to include loan
Continue Reading Main Street Loans to Be Extended to Nonprofits
The Coronavirus Disease 2019 (COVID-19) pandemic caused the closure of Internal Revenue Service offices and service centers nationwide and the plummeting of new tax examinations. Although certain functions and ongoing
Continue Reading IRS Audit and Investigation Priorities Now That the IRS Is Back in Business
On June 5, 2020, the Internal Revenue Service (IRS) issued Notice 2020-39 providing relief for Qualified Opportunity Funds (QOFs) and their investors (QOF investors), and clarified previously issued relief to
Continue Reading IRS Provides COVID-19 Relief for Qualified Opportunity Funds and Their Investors
Life changes as a result of COVID-19 may also have business considerations. One of those considerations is how changing residence will affect an individual’s taxes. That has become even more
Continue Reading Considerations When Changing Residency To Another State