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The FICPA podcast is to inform and educate our members & the CPA community with today’s hottest issues. Our mission is to serve our members, enhance their competency & professionalism, support professional standards, promote the value of our members & advocate on behalf of the CPA Profession.
Episodes
Monday May 04, 2020
Monday May 04, 2020
https://www.currentfederaltaxdevelopments.com/podcasts/2020/5/2/2020-05-04-no-deduction-for-you
This week we look at:
- PPP loan updates on corporate groups, businesses sold after February 15, 2020, loan review procedures, private companies need to show loan was necessary, treatment of seasonal employers, how to count 500 employees and maximum loan calculation amounts
- Update on faxing procedures for Forms 1139 and 1045
- No deduction allowed for amounts paid to achieve PPP loan forgiveness per IRS
- Draft Form 941 released for second quarter of 2020
- IRS clarifies filing date relief for U.S. Tax Court filings
- IRS and DOL issue relief for certain timeframes that apply to employee benefit plans