Tax Warrior Chronicles

PPP Update #3 - Paycheck Protection Program Loan - Regulations & Final Application Released

Posted on Fri, Apr 03, 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: Updates #1, #2#3#4#5#6#7,#8,#9,#10,#11,#12,#13, #14, #15#16#17, #18,

#19, #20, #21, #22, #23

 

At this point, our readers should be familiar with the Paycheck Protection Program (PPP), the intent behind it, and the guidance issued as of April 2, 2020.  Today we have summarized key changes included in the new guidance issued overnight between April 2 and April 3, including the Final Borrower Application and related regulations.

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June 30th Opportunity Fund Testing is Near - Here’s What You Need to Know to Pass!

Posted on Mon, Jun 10, 2019

The most recent set of proposed Opportunity Zone (OZ) regulations, issued by Treasury in April, provide the clarity many OZ Fund sponsors need to begin doing deals. However, early-adopters formed funds in 2018 and the beginning of 2019 despite the uncertainty in the law. For these courageous few, a critical IRS testing date is fast-approaching on June 30, 2019. Today, we discuss what you need to know to pass your OZ Fund’s mid-term test.

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Regs Make It Harder to Defer Tax on Compensatory Property Transfers

Posted on Mon, Mar 03, 2014

Even in the throes of tax season, the IRS is busy issuing new rules that affect your 2013 filing.  It has recently issued final regulations that make it more difficult, if you receive property in connection with the performance of services, to defer tax on the value of the property you receive. The new regulations, which affect certain performance based compensation including restricted stock, clarify and tighten certain rules relating to whether your rights to such property are subject to a substantial risk of forfeiture. The final regulations adopt the previously proposed regulations with some modifications and apply to property transferred after December 31, 2012.

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