This week we look at:

  • IRS issues clarifications on claiming the employee retention credit

  • SBA issues formal interim final rules modifying forgiveness rules for PPPFA

  • Additional final regulations issued under ยง199A

  • Proposed regulations released to deal with the TCJA parking lot tax

  • IRS announces interest will be paid on refunds for returns filed by 7/15/20, with interest starting to accrue at 4/15/20

Copyright 2020, Kaplan Financial Education

Direct download: 2020-06-27_CARES_Fix_for_the_RMDs_that_Arent_RMDs.mp3
Category:general -- posted at: 7:48pm EDT

This week we look at:

  • Revised PPP forgiveness application and some rules to take into account PPPFA changes
    Relief granted for PPP loan qualification related to certain felony convictions of owners
  • CARES special retirement plan provision relief published by IRS
  • Using the wrong FedEx service to file a Tax Court petition costs taxpayer the option to challenge the IRS in Tax Court

Copyright 2020, Kaplan Financial Education

Direct download: 2020-06-22_CARES_Retirement_Plan_Rules_Issued.mp3
Category:general -- posted at: 12:33pm EDT

This week we look at:

  • SBA begins issuing revised guidance to take into account PPPFA changes to PPP loan program
  • IRS rules no inclusion in income or payroll tax liability for programs where employees donate leave time to COVID-19 charities
  • Proposed regulations would expand deductions for medical expenses
  • Post-TCJA real estate like-kind exchange proposed regulations issued by the IRS

Copyright 2020, Kaplan, Inc.

Direct download: 2020-06-19_TCJA_Returns-Like_Kind_Exchanges.mp3
Category:general -- posted at: 9:43pm EDT

This week we look at:

  • Payroll Protection Program Flexibility Act of 2020 enacted into law on June 5, 2020
  • Relief from physical presence rules given to qualified plans
  • IRS expands Qualified Opportunity Zone relief and extends period for existing relief
  • IRS returns to tax basis capital computation issues - gives two different proposed methods

Copyright 2020, Kaplan Professional Education

Direct download: 2020-06-08_PPPFA_Becomes_Law.mp3
Category:general -- posted at: 3:16pm EDT






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