Federal Tax Update Podcast

This week we are looking the proposed PPP loan revisions

• Proposed COVID-19 Relief Bill
• Reopen and revise PPP loans
• Create second draw need based PPP loan program
• Fix the deduction issue
• Simplified forgiveness applications (2)

Copyright, Kaplan, Inc.

This week we look at:

• IRS issues Q&As on CARES Act §§102 and 103
• Tax organizations respond to IRS Commissioner on no penalty relief
• SBA issues guidance on tax reporting for CARES Act §1112 payments
• SBA adds Q&A on Forms 3509 and 3510

Copyright 2020, Kaplan, Inc.

This week week we look at:

• MFA to be available for all online tax products
• Commuter highway vehicles and COVID-19
• Opt-in IP PIN program going nationwide
• Taxpayer willfully failed to report Swiss bank account

Copyright 2020, Kaplan, Inc.