Tax Warrior Chronicles

PPP Update #7 – What’s New? – Clarity on Deductibility of Expenses & Other Items

Posted on Fri, May 01, 2020

As guidance in this area is being released regularly, we recommend you read all of our blogs on this subject.  All the blogs in the Paycheck Protection Program series are here: #1, #2#3#4#5#6#7,#8,#9,#10,#11,#12,#13, #14, #15#16#17, #18,

#19, #20, #21, #22, #23

 

 

 

 

While many await formal guidance about the Paycheck Protection Program (PPP) loan forgiveness, the SBA and Treasury were busy issuing various other guidance this week.  Today, we outline and provide our thoughts about this week’s guidance, including deductibility of expenses paid with PPP funds and PPP eligibility standards.

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IRS Expands Extension Relief - Now Includes Q2 2020 Individual Estimates

Posted on Thu, Apr 09, 2020

On April 9, 2020, the IRS released Notice 2020-23, providing additional relief for taxpayers affected by the ongoing coronavirus disease 2019 pandemic.  The relief provided expands the application of and provides greater clarity about prior guidance about extended federal filing and payment due dates.

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