Current Federal Tax Developments

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2020-07-13 BBA Audit Flowchart

This week we look at:

  • W2s will report FFCRA sick and FMLA pay to each employee

  • Congress extends PPP loan program through August 8, 2020

  • FAQ looks at the tax implications of receiving a CARES Provider Relief Payments

  • Depreciation limits for vehicles for 2020 released by the IRS

  • §265(a)(1) does not bar deduction under UBIT rules for a charity

  • Flowchart for BBA CPAR audit regime published by the IRS

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2020-07-13 BBA Audit Flowchart Ed Zollars, CPA (Kaplan Financial Education)

The articles for this week developments can be downloaded in the PDF below:

2020-07-13 Current Federal Tax Developments