Current Federal Tax Developments

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2020-04-27 Is This Necessary?

This week we look at:

  • PPP Loan program and EIDL Grants Get Additional Funding

  • PPP guidance raises question of false certification that loans were necessary, provides other clarifications

  • IRS provides additional guidance on payments to repair homes due to pyrrhotite damage

  • Relief for taxpayers unable to meet foreign earned income exclusions due to COVID-19

  • Special procedures for taxpayers who are not required to file but wish to file for advance payments

  • IRS gives special relief related to COVID-19 travel restrictions impacting substantial presence test

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2020-04-27 Is This Necessary? Ed Zollars, CPA (Kaplan Financial Education)

A PDF with the articles for this week can be downloaded below:

2020-04-27 Current Federal Tax Developments