Federal Tax News
Be on “high alert” for scams related to the coronavirus (COVID-19) pandemic. The Treasury Inspector General for Tax Administration (TIGTA) has issued this urgent warning to taxpayers related to the government Economic Impact Payments that are being made to taxpayers […]
Read More New Law Retroactively Fixes QIP Drafting Mistake
New Law Retroactively Fixes QIP Drafting Mistake
Read More Stay Afloat with Tax-Favored Coronavirus-Related Distributions
The coronavirus (COVID-19) pandemic is causing economic hardship for many people and businesses in the United States. On March 27, the $2.2 trillion Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law by President Trump. A key […]
Read More Economic impact payment paper check mailing dates. When will you get yours?
Economic impact payment paper check mailing dates. When will you get yours?
Read More The IRS clarifies the deductibility of PPP-funded expenses
In Notice 2020-32, the IRS has clarified that deductions for income tax purposes aren’t allowed for expenses that are otherwise deductible if the payment of the expense results in forgiveness of a covered loan.
Read More The Ohio Department of Job and Family Services has launched its Pandemic Unemployment Assistance (PUA)
Pandemic Unemployment Assistance for individuals who are unemployed due to COVID-19 but who do not qualify for traditional unemployment benefits.
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