Now, retroactive to enactment of the CARES Act in March 2020, thanks to the new COVID-19 relief law, an employer who has or had the PPP in hand can do both the PPP loan and the employee retention credit.

As you would expect in these unusual times, some of the relief is in the form of direct government financial assistance and some is from tax benefits that can impact both tax year 2020 and tax year 2021.

Here’s what lawmakers did with the extenders when they enacted the new COVID-19 relief law on December 27, 2020.

Answer—you most likely—if you file a business tax return and have not yet received any Paycheck Protection Program (PPP) monies.

Uh-oh! In your mailbox, you found that dreaded envelope—the one from the IRS. Inside the envelope, you find a notice from the IRS informing you that it assessed additional tax, penalties, and interest on your tax return from two years ago!

This article is the third and final installment of our series on what you as the executor need to know about both the most important federal tax issues and the most important non-tax financial issues.

This article is the second of our three-part series on what you, as the executor, need to know about the most important federal tax issues.

How do you multiply your net worth? Let the government help.

This article is the first of our three-part series on what you, as the executor, need to know about the most important federal tax issues. So please read this, and then stay tuned for Parts 2 and 3.

Since the arrival of the COVID-19 pandemic, the Small Business Administration (SBA) Paycheck Protection Program (PPP) loans and Economic Injury Disaster Loans (EIDLs) have gotten the most attention from businesses seeking a quick cash infusion.

Billions of dollars in grants are being handed out by the federal government and by state and local governments as well. Are these grants taxable? It depends...

Can you have a tax-deductible office inside your home for the same trade or business? We have had many requests from tax professionals and business owners demanding, “Show me where it says that!