Resources

On August 19, 2020 the IRS requested comments on whether it should eliminate disclosures made under Revenue Procedure 94-69, which allows taxpayers to avoid accuracy-related penalties with respect to self-reported adjustments...

Josh Ungerman was quoted in the Bloomberg article, “HILL TAX BRIEFING: Taxes in Focus Heading Into First 2020 Debate,” by Colin Wilhelm, Kaustuv Basu and Patrick Ambrosio on September 29, 2020. Reproduced with...

Is COVID to blame for you missing a tax election, inadvertently terminating an election, or making the wrong election? Do you need immediate IRS attention… during a global pandemic when most IRS offices are closed? Don’t...

While the IRS has refused any formal program for late penalty relief, informally the IRS is embracing the virtue of forgiveness, with the magic word being “COVID-19.” In June 2020, the AICPA penned a letter to Treasury...

For the many businesses that secured a potentially forgivable loan under the Paycheck Protection Program (PPP), one of the more pressing issues is whether to apply for forgiveness now or later and the tax implications of...