The CARES Act contains a technical correction that makes real estate qualified improvement property eligible for faster depreciation.Read More
Archive for the ‘COVID-19 Resourcecs’ Category
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Questions to Ask When Making COVID-19 Risk Disclosures
Efforts to contain the spread of the novel coronavirus (COVID-19) have led to suspension of many economic activities, putting unprecedented strain on businesses. The Securities and Exchange…Read More
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Coronavirus Related Tax Scams to Watch Out For
The IRS is warning taxpayers to beware of new coronavirus related tax scams concerning the forthcoming economic impact paymentsRead More
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Report the Employee Retention Credit on Return for 2nd Quarter of 2020
The IRS has provided guidance for taxpayers reporting the employee retention credit for certain employers subject to closure due to the COVID-19 crisisRead More
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Answers to Questions About the Cares Act Employee Retention Tax Credit
As a business with employees, you may have questions about the new employee retention tax credit. Here are some answers.Read More
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Tax-Favored Coronavirus-Related Distributions
One CARES Act relief measure allows withdrawals of up to $100,000 from IRAs with no tax hit if those amounts are recontributed within three years.Read More
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Cares Act Provides Option to Delay CECL Reporting
Implementation of the current expected credit loss (CECL) standard has been delayed again. This time, large public banks get a reprieve.Read More
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Paycheck Protection Program (PPP) Q&A
The Paycheck Protection Program (“PPP”) authorizes up to $349 billion in forgivable loans to small businesses to pay their employees during the COVID-19 crisis. All loan terms…Read More
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Business Tax Provisions in Third Coronavirus Relief Package
By a unanimous vote on March 25, the Senate passed a third coronavirus relief package, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act, H.R. 748,…Read More
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CARES Act Signed, SBA Loan Expanded
The CARES (Coronavirus Aid, Relief, and Economic Security) Act was signed into law, significantly expanding loans for small businesses.Read More