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Costs paid with 2020 PPP lendings can be subtracted on 2021 …

TweetShareSharePin0 Shares2021-2) the IRS gave that a taxpayer that got a lending with the PPP was not allowed to subtract costs that are usually insurance deductible under the Code to the degree the settlement of those expenditures resulted in PPP car loan mercy. In dependence on that assistance, several taxpayers did not subtract expenditures paid

Biden Child Tax Credit Changes and More Head Sniffin’

TweetShareSharePin0 Shares President Biden’s newly released budget and the Treasury Department’s “Green Book” of revenue proposals outlines a vision of more spending administered through the tax code. The proposals have revived the debate over the proper role of spending in the tax code, and relies on the Internal Revenue Service (IRS) to further expand beyond

6 key areas of paid tax preparer regulation highlighted in AICPA letter to Congress

TweetShareSharePin0 Shares News Practice & Procedures By Dave Strausfeld, J.D. The AICPA welcomed the Biden administration’s recent request for congressional legislation to give the IRS the authority to regulate paid tax preparers who are currently unregulated. The Biden proposal, included in the recently released American Families Plan, requests Congress to pass legislation authorizing the
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