This week we look at:

  • AICPA reports that the IRS is about to release what many will find is unwelcome guidance on expenses expected to be used for forgiveness under PPP loan program
  • IRS gives up on state entity level taxes on passthrough businesses as a workaround to the TCJA limit on the deduction of state and local taxes
  • Taxpayer attempts to argue his LLC was acting as an agent for his IRA custodian, but fails to convince the Tax Court

Copyright 2020, Kaplan, Inc.

Direct download: 2020-11-16_IRS_Throws_in_the_Towel_on_One_SALT_Workaround.mp3
Category:general -- posted at: 12:49pm EST



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