Coronavirus Tax Insights

As part of our efforts to help our clients and friends navigate the changing tax environment related to COVID-19, we’ve aggregated content in that area here.

View our most recent COVID-19 Tax Insights below.

Articles April 28, 2021 Treasury/IRS Provide Safe Harbor for Deducting Original PPP Loan Expenses

Coverage of Revenue Procedure 2021-20 and its safe harbor for taxpayers that received a loan pursuant to the PPP and did not deduct certain otherwise deductible expenses paid or incurred.

Blogs April 14, 2021 6 COVID-19- Related Transfer Pricing Documentation Considerations

This post focuses on six key considerations for multinational enterprises preparing transfer pricing documentation for the 2020 tax year (FY2020) to document and memorialize any changes to their transfer pricing arrangements or profitability related …

Articles April 13, 2021 IRS Notice 2021-25: Temporary 100% Deduction for Business Meal Expenses

IRS Notice 2021-25 provides guidance on the temporary 100% deductibility for food or beverages provided by a “restaurant” -- temporary in that it only applies to expenses that are paid or incurred after December 31, 2020 and before January 1, 2023.

Blogs April 09, 2021 ERC -- Full or Partial Suspension of Trade or Business Operation

When a business is required to suspend operations by a governmental order, the taxpayer clearly qualifies for the ERC -- but what about those businesses that are allowed to operate during a governmental shut-down due to being deemed essential?

Blogs April 09, 2021 IRS Notice 2021-23: Yet More Guidance for the Employee Retention Credit

A look at the latest guidance from the IRS relative to the Employee Retention Credit (ERC).

Articles March 18, 2021 IRS Extends Individual Filing Date to May 17

The IRS announced that it is extending the federal income tax filing date for individuals for the 2020 tax year to Monday, May 17, 2021.

Articles March 17, 2021 The American Rescue Plan Act of 2021—A Tax Summary

President Biden signed into law the American Rescue Plan Act of 2021, a legislative package intended to address the impact of the coronavirus pandemic over the past year. This article covers specific tax provisions of the Act.

Articles March 11, 2021 American Rescue Plan Signed Into Law

A quick overview of the American Rescue Plan Act of 2021 (“ARPA”), a massive legislative package intended to further address the impact of the coronavirus pandemic over the past year.

Articles March 08, 2021 Rule Changes May Lead to Larger PPP Loans for Many Self-Employed Individuals

On March 3, 2021, the SBA issued an interim final rule that may lead to larger PPP loans for many sole proprietors, self-employed individuals and independent contractors, particularly those with little or negative net profit.