Recent News

Tuesday, May 12, 2020

House Democrats today unveiled a $3 trillion COVID-19 relief bill, their proposal for “Phase 4” of pandemic relief legislation. The Health and Economic Recovery Omnibus Emergency Solutions (HEROES) Act would provide nearly $1 trillion to state and local governments to avert layoffs and $200 billion in hazard pay for essential workers.

Monday, May 4, 2020

The Internal Revenue Service issued a notice that clarifies that taxpayers are not allowed a deduction for an expense if payment of the expense results in forgiveness of a Paycheck Protection Program (PPP) loan, and the income associated with the forgiveness is excluded from gross income.

Thursday, April 30, 2020

The Internal Revenue Service will publish a revenue procedure May 18 to temporarily allow taxpayers to electronically submit requests for private letter rulings and other guidance. Revenue Procedure 2020-29 modifies an earlier revenue procedure and will allow both paper and electronic requests for advice until Revenue Procedure 2020-29 is modified or superseded.

Friday, April 24, 2020

President Donald Trump today signed the $484 billion COVID-19 relief bill into law, providing $380 billion for small businesses, $75 billion for hospitals and $25 billion for disease testing.

Wednesday, April 22, 2020

The House of Representatives is expected to vote Thursday morning on a $484 billion COVID-19 relief bill that includes $380 billion for small businesses, $75 billion for hospitals and $25 billion for disease testing.