On Monday, April 13, 2020, the U.S. Small Business Administration (SBA) released an update on the CARES Act, which allows small businesses (500...
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COVID-19: Paycheck Protection Program Information
The U.S. Department of the Treasury has released the details of the Paycheck Protection Program (“PPP”), which prioritizes millions of Americans...
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COVID-19: Coronavirus stimulus actions impacting business owners and individuals
IRS extends filing deadline and federal tax payments regardless of amount owed The Treasury Department and Internal Revenue Service announced on...
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COVID-19: Treasury Extends April 15 Tax Payment Deadline
The Treasury Department has announced a plan to extend the April 15 tax deadline, providing an additional 90 days to pay taxes owed for individuals...
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COVID-19: Managing Cash and Accessing Disaster Relief Lending
Many companies are in need of access to working capital in these uncertain times where businesses of all types are seeing major reductions in revenue...
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IRS beginning to increase enforcement efforts in the cryptocurrency space
In recent weeks, the IRS has sent letters (Letter 6173, Letter 6174, or Letter 6174-A) to approximately 10,000 taxpayers with regard to...
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C-corp – Is It Right for Your Business?
The new U.S. tax legislation offers a sweet deal for C corporations, which can make giving up your passthrough status an attractive option. If an...
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IRS Notifying Virtual Currency Owners of Back Taxes Owed
On Friday, July 26, the IRS announced that it has begun sending letters to taxpayers who may have failed to report income and pay the resulting tax...
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SEC Sets New Precedent Over Bond Valuation Compliance with $5 Million Deer Park Penalty
On June 4, 2019, Deer Park Road Management Company, LP agreed to settle charges originating from its violation of Section 206(4) and Rule 206(4)-7 of...
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IRS Provides Methods for Calculating W-2 Wages for QBI Deduction Limitation
For certain taxpayers, the deduction for Qualified Business Income (QBI) is limited to the greater of: (1) 50% of the W-2 wages paid by the...
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