The Tangible Property Regulations were finalized in 2013 and 2014, and since then the tax landscape has changed significantly. Tune in to our on-demand webinar for a refresher on the application of TPR and planning opportunities for your business. The program covers: Various Safe Harbors, including small taxpayers, De Minimis,
In the commercial and individual settings, many insurance providers are providing discounts on premiums and even returning portions of previously-paid premiums in light of the COVID-19 pandemic.
We had hoped by now to be able to provide readers with some meaningful reconnaissance from Washington regarding the current coronavirus stimulus package Congress is working on, but negotiators appear to be in a lengthy stalemate, with little or nothing agreed upon.
The IRS recently provided more time for taxpayers to qualify for the Internal Revenue Code Section 47 “rehabilitation credit.” Background Subject to a number of limits and qualifications, the credit amounts to as much as 20% of the cost of rehabilitating certain historic structures. One qualification is that the property
Recently we have seen a number of clients who filed legitimate returns find themselves questioned by the IRS before release of their refunds. This scrutiny is nothing new, and is a characteristic of the IRS trying to prevent successful attempts at identity theft. However, it is becoming more pervasive, and
For those of you who have been repeatedly hitting the refresh button on your web browser for the past several weeks in anticipation of additional guidance on Paycheck Protection Program (“PPP”) loan forgiveness, wait no longer: on Tuesday, the SBA, in consultation with Treasury, released a fresh set of frequently
Not many of us get a second chance to essentially go back and change the results of a previous action – in essence, undo a decision that was, at the time, irreversible. It is rarer still that we get a “do-over” when it comes to making a tax decision. One