In a July 28, 2022, decision, the Alabama tax tribunal issued a taxpayer-favorable verdict and provided clarity on how the intercompany add-back and subject-to-tax exception provisions should apply.
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The IRS released a memorandum and FAQs to provide procedural guidance regarding R&D credit refund claims on amended tax returns.
Employers need to react quickly to the new guidance to pay in amounts as if they were incurred on Dec. 31, 2021.
IRS releases Rev. Procs. 2021-48, 2021-49 and 2021-50 to address the treatment of tax-exempt income for PPP loans.
Bipartisan infrastructure bill passes House with bipartisan vote. President Biden expected to sign by end of next week.
What are the proposed tax changes affecting individual taxpayers and what should you consider today to limit your exposure to these changes?
Rev. Proc. 2021-33 allows exclusion of PPP, restaurant revitalization and shuttered venue operator grants from ERTC gross receipts test.
Notice 2021-49 provides answers on previously uncertain issues and addresses changes implemented in the American Rescue Plan Act.
Some employers can give paid leave to employees impacted by COVID in 2021 and claim a payroll tax credit per the American Rescue Plan Act.
Small Business Administration, in light of lawsuit, notifies PPP lenders that loan necessity questionnaire is withdrawn.