On December 27, 2020, President Trump signed the Consolidated Appropriations Act, 2021 (H.R. 133), which, among other things, provides for the...
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Congress Passes COVID-19 Relief Bill
On December 21, 2020, Congress approved a relief bill with some of the following tax provisions: (1) tax deductibility of Paycheck Protection Program...
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IRS Issues Guidance for Tax Treatment of PPP Loans
The IRS recently issued guidance relating to the tax treatment of Paycheck Protection Program (PPP) loan forgiveness. Revenue Ruling Addresses...
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Changing State Residency: Tax Considerations When Moving to Florida
With the influx of new and younger residents migrating to the state, and the inflow of hedge funds and private equity firms in recent years, South...
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Joe Biden Is President-Elect: What’s Next for US Tax and Trade Policy?
Joe Biden, who has been projected as the winner of the Presidential election by the Associated Press and others, pledged during his campaign to...
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Streamlined IRS Page Helps People Closing a Business
The IRS has launched a redesigned page at www.IRS.gov/closingabiz to help business owners navigate the federal steps when closing a business. During...
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COVID-19: Banks Share Preparedness Updates for PPP Loan Forgiveness
Banks have started to announce their plans for accepting PPP Forgiveness requests in the coming weeks and, in preparation, have laid out a series of...
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Bankruptcy Reorganization Act Opens Up New Opportunities for Small Businesses
In February 2020, Congress enacted the Small Business Reorganization Act of 2019, creating a new subchapter (Subchapter V) of Chapter 11 of...
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COVID-19: SBA Releases New PPP Loan Forgiveness FAQs
The Small Business Administration, in conjunction with the U.S. Treasury Department, has published a list of FAQs on its website to provide guidance...
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COVID-19: President Trump extends PPP loan application deadline
On July 4, 2020, President Trump signed a bill (S.4116) into law that extends the PPP loan application deadline from June 30 to August 8, 2020. The...
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