Over the past six months, we have seen nearly $2.7 Trillion in combined COVID-19 relief funding from Congress via the Families First, CARES, and PPP and Health Care Enhancement Act; however, many significant items remain unaddressed.
A new State of Maryland allows pass-through entities (PTEs), including partnerships and S Corporations, to elect to pay the Maryland income tax due on both resident and non-resident owners’ share of the income from the PTE.
On August 8, 2020, President Trump issued a Presidential Memorandum allowing for the deferral of employee social security payroll tax obligations due to COVID-19.
On August 8, 2020, President Trump issued Memorandum on Deferring Payroll Tax Obligations in Light of the Ongoing COVID-19 Disaster.
One of the little-known provisions of the House of Representatives’ HEROES Act could have big impacts for high-income taxpayers and small businesses later on as tax policies continue to be reevaluated.
Sellers are able to command top dollar if they go into the sales process ready to hit the ground running which includes tax preparation. (authored by RSM US LLP)
The IRS explains the taxability of Provider Relief Fund reimbursements made to health care providers pursuant to the CARES Act. (authored by RSM US LLP)
The Paycheck Protection Program helped more than four million businesses continue to pay their employees during the coronavirus pandemic.
On Wednesday, July 1, the House passed Senate Bill S.4416 by unanimous consent. The bill, which extends the timeline to apply for PPP funds through August 8, 2020, is headed to the President’s desk for signature.
Over the past several weeks, there has been a lot of attention regarding the tax provisions and federal loan programs such as the Paycheck Protection Program included in the CARES Act.