by GPwebsiteV3! | Sep 1, 2020 | Covid-19, GP Articles
On August 8, 2020 President Trump issued an Executive Order allowing the deferral of payroll tax obligations due to the continuing Covid-19 crisis. Last Friday, the IRS issued guidance related to the implementation of this Order (Notice 2020-65). The Order allows...
by GPwebsiteV3! | Jul 10, 2020 | GP Articles, Tax, Tax Reform
Later this year, the US Supreme Court will deliberate on a case that could potentially lead to the Affordable Care Act (ACA) and its associated taxes being found retroactively unconstitutional. If the Court does find the ACA unconstitutional, taxpayers may be entitled...
by GPwebsiteV3! | Jun 30, 2020 | Covid-19, GP Articles
A little more than three weeks ago, President Trump signed into law the PPP Flexibility Act of 2020 (Flexibility Act) which made some significant changes to the Paycheck Protection Program (PPP), a loan program introduced in the CARES Act of 2020 in March. These...
by GPwebsiteV3! | Jun 22, 2020 | Business, GP Articles
Whether to tax-affect earnings of pass-through entities (“PTE”) has been a hotly debated topic among business valuators for over two decades. Historically, the IRS has held that PTE earnings are after-tax since there is no tax at the entity level. Dating back to...
by GPwebsiteV3! | Jun 18, 2020 | Covid-19, GP Articles, Tax Reform
The Tax Cuts and Jobs Act (TCJA) was a major overhaul of the U.S. Tax Code passed in 2017. Of course, 2017 seems like decades ago considering all that has transpired since then, most notably the coronavirus pandemic. Unfortunately, it took a worldwide catastrophic...
by GPwebsiteV3! | Jun 8, 2020 | Business, Covid-19, GP Articles
On June 5, 2020, the President signed into law the Paycheck Protection Program (PPP) Flexibility Act. The Act is meant to add leniency and flexibility to the use of PPP loans by small businesses including updates to some of the requirements and deadlines. These...
