News & Events
Category: News - Page 8
Can Businesses Deduct Expenses Paid with Paycheck Protection Program (PPP) Loans?
NewsPosted in on June 16, 2020
What Do Cryptocurrency Investors Need to Report on Their Federal Tax Returns?
Hot Topics, NewsPosted in on May 5, 2020
As 2020’s revised Tax Day inches closer, many individuals and businesses are beginning the process of gathering the information needed in order to prepare their returns. For many, this includes information about their cryptocurrency investments. After issuing updated guidance (and warning letters) last year, the Internal Revenue Service (IRS) is preparing to hold taxpayers accountable if they fail to properly report cryptocurrency transactions on their July 15, 2020 returns.
Read MoreWhat the Formation of the IRS's New Fraud Enforcement Office Means for Small Businesses
Hot Topics, NewsPosted in on April 30, 2020
On March 5, 2020, the Internal Revenue Service (IRS) announced the creation of a new Fraud Enforcement Office. According to a statement from the IRS, “the new office will reside in the IRS Small Business/Self Employed Division and work on agency-wide compliance issues.” Here, Washington D.C. business tax attorney Kevin E. Thorn explains what this means for small businesses.
Read MoreTreasury Secretary Mnuchin Announces Tax Filing Delay Until July 15: What You Need to Know
NewsPosted in on March 20, 2020
Treasury Secretary Steven Mnuchin has announced that the 2020 tax filing deadline will now be July 15 for both individual and corporate tax filers.
Read More