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Federal Income Tax Rate Proposals

USA - April 2 2021 Over the past several months, there has been much speculation regarding potential changes to corporate and individual tax rates. The Infrastructure…

Barry Herzog

New Tax Law Update: Deductibility of PPP-Funded Expenditures

USA - December 28 2020 After initial hesitation, President Trump signed H.R. 133 into law yesterday evening, which contains appropriations bills and provides approximately…

Pamela M. Capps, Barry Herzog

Final Treasury Regulations Clarify Business Interest Deduction Limitation

USA - September 28 2020 On July 28, 2020, the Internal Revenue Service (IRS) issued final regulations (T.D. 9905) (the final Regulations) concerning the limitation on the…

Barry Herzog

Executive Summary: Final Treasury Regulations Clarify Business Interest Deduction Limitation

USA - September 28 2020 On July 28, 2020, the Internal Revenue Service (IRS) issued final regulations (T.D. 9905) (the final regulations) concerning the limitation on the…

Barry Herzog

The IRS Denies Tax Deductibility of Business Expenses Paid With Forgiven PPP Loans

USA - May 4 2020 In Notice 2020-32 (Notice), released on April 30, the Internal Revenue Service (Service) stated that otherwise deductible expenses incurred by…

Barry Herzog