As if business owners did not have enough to worry about in light of various deadlines of all types including when and whether to submit Paycheck Protection Program (“PPP”) loan applications, how to account for the...Read More
Author: Ralph Levy Jr.
IRS Announces Expanded Penalty Waiver for Individuals with Underpayment of 2018 Estimated Income Taxes
With the 2018 deadline for filing of individual income tax returns just around the corner, taxpayers should be aware of the recent announcement by the Internal Revenue Service (IRS) of expanded relief from penalties for...Read More
In early August, the Internal Revenue Service (IRS) issued proposed regulations under the Tax Cuts and Jobs Act (TCJA) that provide guidance to owners of pass-through businesses as to eligibility for a federal tax deduction of...Read More
In an announcement that was overshadowed by the significant tax legislation enacted in December, 2017, the IRS has released updated instructions for its Form SS-4, Application for Employer Identification Number (EIN). This...Read More
A recent Tax Court decision serves as a reminder to take care in structuring loans by shareholders to their S corporations if the shareholders intend to use the loans to support losses generated by the S corporation. In Dana D....Read More