PPP Loan Forgiveness and Other Recent Developments

Slides

Tax Updates

Passthrough Taxes Created by States as SALT Workarounds Will Be Allowed as Deduction Without Regard to any SALT Limitations

IRS Letter to Congressional Office Indicates that $10,000 Cap Applies to Deduction of Real Estate Taxes on Real Estate Cooperative Unit Under §216

IRS Gives Instructions for Preparation of Forms W-2 for Employers Who Deferred Employee OASDI Under Executive Order

Updated IRS FAQ Outlines How Acquisitions Impact Claiming Employee Retention Credit

IRS Rules Taxpayers May Not Deduct Expenses That Lead to PPP Forgiveness if Taxpayer Reasonably Believed Forgiveness Would Be Granted at Year End