Category: IRS News
The notice clarifies that no deduction is allowed for federal income tax purposes for business expenses that are traditionally deductible if the payment of the expense results in the forgiveness of a PPP loan.
The IRS recently released an FAQ related to the CARES Act provision allowing employers to defer their portion of Social Security taxes payable on employee wages.
The IRS announced on April 9 additional automatic extensions of time to file certain tax returns and pay any taxes due.
As part of the Affordable Care Act, Tax Form 1095 was introduced to relay proof of your health insurance coverage. Here’s what you need to know about it.