by Upstate Tax Professionals | May 7, 2020 | Tax Tips and News
Tax Policy – Advancing Net Operating Loss Deductions in Phase 4 Business Relief
Key Findings The Coronavirus Aid, Relief, and Economic Security (CARES) Act provided economic relief to businesses in part by modifying net operating loss (NOL) deduction...
by Upstate Tax Professionals | May 6, 2020 | Tax Tips and News
The Internal Revenue Service reminded low-income Americans who don’t normally file a tax return that they are probably eligible to receive an Economic Impact Payment.… Read more (Feed generated with FetchRSS) – Story provided by TaxingSubjects.com…
by Upstate Tax Professionals | May 6, 2020 | Tax Tips and News
Tax Policy – White House Considers Neutral Cost Recovery for Structures
The White House and congressional lawmakers are weighing policies to include in the next round of coronavirus response legislation. Some policies are geared toward helping people and...
by Upstate Tax Professionals | May 6, 2020 | Tax Tips and News
Tax Policy – Does Your State Tax Business Inventory?
As we continue to look at tax types that can harm states’ post-coronavirus recovery, it’s worth highlighting taxes on business inventory. Inventory taxes fall under the umbrella of the property tax,...
by Upstate Tax Professionals | May 6, 2020 | Tax Tips and News
IRS Tax News – AICPA supports bill that would make PPP-funded expenses deductible
A bill introduced in the Senate would clarify that ordinary expenses funded by Paycheck Protection Program (PPP) loans are deductible by taxpayers. If enacted, this would...
Upstate Tax Professionals