The Tax Professionals Blog
Summary of the Paycheck Protection Program Flex...
On June 5, 2020, the President signed the Paycheck Protection Program Flexibility Act of 2020. The legislation liberalizes the qualifications for forgiveness.
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Filing, Payment & Actions Deadlines for 2019 Ta...
On March 18, 2020, the IRS issued Notice 2020-17 which postponed the due date for certain Federal income tax payments from April 15, 2020 until July 15, 2020. Since then the IRS issued Notice 2020-18 which...
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Families First Coronavirus Response Act
H.R. 6201, the Families First Coronavirus Response Act was signed into law by President Trump and becomes effective April 2, 2020, and the provisions of the legislation will continue through...
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Reporting a Gift from a Foreign Source
If the value of the aggregate “foreign gifts” (described below) received by a U.S. person (other than an exempt organization) exceeds specified amounts, the U.S. person must report each foreign...
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Solar Installation Battery Add-On
Emergency power outages imposed by utilities in high fire prone areas during periods of high winds and low humidity as well as other disaster areas can be a major inconvenience...
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Timing of Home Acquisition Debt Expenditures
When must a home purchase, construction cost or home improvement expenditures be made in order for a loan to be treated as acquisition debt? The answer can be found In...
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