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A Trap for the Unwary - IRS Denies Deductions for Expenses Paid with Forgiven PPP Loans

USA - September 3 2020 A central feature of the CARES Act, the Paycheck Protection Program (PPP), provided a lifeline to a multitude of small businesses during the early…

Anthony Dragga.

Update on Revised DOR Income Tax Pandemic Regulations for Telecommuters

USA - March 26 2021 On March 5, 2021, the Massachusetts Department of Revenue (DOR) codified final regulations to extend Massachusetts income tax withholding to…

2020 End of Year Tax Planning for Businesses

USA - October 28 2020 As the 2020 year draws to a close, businesses should review the tax-related provisions adopted in the CARES Act and related IRS guidance with their…

Social Security Taxes Could Be Deferred for the Rest of 2020

USA - August 20 2020 Under the CARES Act passed on March 27, 2020, Congress allowed employers and self-employed workers to defer payment of their portion of Social…

IRS issues guidance on Social Security tax deferral

USA - September 1 2020 On August 28, the IRS issued Notice 2020-65 to provide guidance on the President’s decision to allow deferral of the employee portion of Social…

Terrence J. Briggs.