I am just now reading the IRS Notice 2022-36 and wanted to share the news to help spread it around. I guess it was initially released last night (August 23, 2022) and then pulled off their website. It was then re-released to their website today, August 24, 2022. The notice proves relief for certain taxpayers […]
IRS releases penalty relief for taxable years 2019 and 2020 Read More »
The American Institute of CPAs (AICPA) had a Town Hall meeting on Thursday, January 6, 2022, to cover updates related to the tax profession. One of the items they highlighted is how dysfunctional the Internal Revenue Service (IRS) currently is. The biggest problem is they aren’t opening their mail or reading the faxes that are
There’s trouble at the IRS – Tell Congress to Act NOW! Read More »
This is just a quick reminder that the Comptroller has extended the normal deadline for the 2020 Texas Franchise Tax Report. This is the report that covers the calendar year 2019, plus any tax year that ended in 2019. The extended deadline would normally be due on November 15, 2020, but due to the COVID-19
The new Texas Franchise Tax extended deadline Read More »
The tax community has been expecting additional Interim Final Rules (IFR’s) for the Paycheck Protection Program (PPP) loans for a long time now. The speed at which these IFRs have been released has slowed down considerably, but, lo and behold, the Small Business Administration has released a NEW IFR today, August 24, 2020. The title
New SBA IFR on PPP Loans Released Today – 8/24/2020 Read More »
Just when it seemed like things in the tax world were starting to get back to a somewhat normal feeling, the US Treasury and Small Business Administration decided to release new Frequently Asked Questions on Paycheck Protection Program Loan Forgiveness. The Treasury’s website was updated today, August 4, 2020, with a new PDF document. You
NEW Frequently Asked Questions on PPP Loan Forgiveness 4 Aug 2020 Read More »
The US Treasury and Small Business Administration have released some details about the companies that received Paycheck Protection Program loans and it includes businesses of all shapes and sizes. Yes it’s interesting to see who received them, but there is no shame in receiving one of these loans and using it to keep your employees
Instead of PPP loan shaming, look for this information Read More »
Whether you consider it good news or bad news, the US Treasury and the Small Business Administration has released details on the recipients of loans under the Paycheck Protection Program (“PPP”). I think it’s good news but apparently someone thinks it’s bad news because it took a lot of negotiating to get the information released.
What to look for in PPP Loan details released by US Treasury Read More »
Things have been slowing down on the Paycheck Protection Program front for a few days (PPP), which feels like an eternity in today’s world. Well have no fear, the Small Business Administration has been busy behind the scenes coming up with tweaks to the PPP and the application for the forgiveness of the loan proceeds.
PPP Loan Forgiveness Application – updated 6/16/2020 Read More »
UPDATE: The Texas Comptroller has added time to file extended Texas Franchise Tax Reports. If you extended your Texas Franchise Tax Report on July 15, 2020 (for non-EFT Franchise Taxpayers) and August 15, 2020 (for EFT Franchise Taxpayers), the due date is now January 15, 2021. Their initial posting had said it was only extended
Texas Franchise Tax Extended Due Date Read More »
By now you know that the IRS is in the process of delivering stimulus payments to most American. That process began this week and will continue for a while. The IRS has created a new web page to give taxpayers more information about the payments and allow taxpayers to update their information to be able
IRS updates Coronavirus Stimulus Payments information Read More »