Sep 29, 2020 | COVID-19 Response, Firm Updates
The Coronavirus Aid, Relief, and Economic Security (CARES) Act of 2020 made significant changes to the deductibility of net operating losses (NOL) and non-corporate business losses in hopes of providing economic relief to individuals and businesses impacted by the...
Sep 24, 2020 | Firm Updates, International Tax
Criminals often deal in cash, and sometimes, large amounts of it. To help combat money laundering, tax evasion, drug dealing, terrorist financing, and other criminal activities, the federal government has made it mandatory that a trade or business that receives more...
Sep 1, 2020 | COVID-19 Response, Firm Updates
On August 8, 2020, President Trump issued a Presidential Memorandum which allowed for the deferral of withholding an employee’s payroll taxes. On Friday, August 21, 2020, the IRS issued additional guidance on the implementation of the deferral in Notice 2020-65. The...
Sep 1, 2020 | Firm Updates, Individual Tax, Small Business
IRC Section 83 discusses the treatment regarding property that was received in connection with performance of services. The Tax Cuts and Jobs Act added an election to defer the recognition of taxable income with respect to specific items under Section 83(i). Even...
