The IRS is providing broad-based penalty relief to most taxpayers who filed certain 2019 and/or 2020 tax returns late due to the COVID-19 pandemic. Find out if you might qualify.
The tax mechanics involved in the sale of trade or business property
The tax treatment of the sale of business assets can be complex. Here’s an overview.
PPP Loan Forgiveness – When is it Recognized?
PPP loans were authorized to assist small businesses adversely affected by the COVID-19 pandemic. With new guidance from the IRS, taxpayers may be able to amend their 2020 tax returns to take advantage of the Revenue Procedures.