PPP 2.0: The Short Version of What You Need to Know

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At this point I think “PPP” for most accountants is the equivalent of nails on a chalkboard. While we’re all happy to see our...

The COVID-19 Stimulus Package & PPP Relief

Overall, the bill seems to be a net positive, with some much needed changes and additions for small businesses. To be honest, it was...

Changes in the Employee Retention Tax Credit with New Stimulus Bill

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This article was adapted from a Twitter thread that you can read here. The editors of TPN have been scouring the Internet to bring...

Update on 11th Hour Covid Relief Bill: Economic Aid to Hard-Hit Small Businesses, Nonprofits, and...

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Update December 27, 2020: Trump has signed this bill into law, you can read more here. Everyone in the tax community is scrambling to find...

IRS Issues Rev Rul: Year of Deductibility for Expenses Paid with PPP Dollars

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The IRS issued Revenue Ruling 2020-27 that addresses when a borrower should exclude the expenses used to obtain forgiveness of their payroll protection program...

Achieving a Better Life Experience (ABLE) Accounts Final Regulations Issued

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Final regulations for Achieving a Better Life Experience (ABLE) accounts were issued earlier this month. The final regulation can be found at IRS.gov. ABLE accounts...

Tax Relief for Ranchers & Farmers

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Farmers and ranchers who were forced to sell livestock due to drought may have an additional year to replace the livestock and defer tax...

IRS Selects 10 New Members for Electronic Tax Administration Advisory Committee

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The following individuals have been appointed to serve three-year terms on the ETAAC beginning in September 2020: Dmitri Alexeev, Santa Rosa, Calif. – Alexeev is a...

The IRS Released Another IFR on PPP This Week

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This IFR has been updated for the laws that congress recently passed. Access it here.

Treasury and IRS Seeking Comments on Proposed Redesigned Partnership Form for Tax Year 2021

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The Treasury Department and the IRS are releasing the new draft Schedule K-2 (Form 1065), Partners’ Distributive Share Items - International and Schedule K-3...

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It’s not the CRM, it’s you — How to make tech work for you

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Scene: You already have tried multiple pieces of software to solve a problem and each time you’re sold a bill of goods that does...

Child Tax Credit woes continue

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Not all that surprising to tax professionals, the IRS finally has announced it has sent incorrect notices to many married filing joint couples who...

Why your practice can benefit from more structure

CPA firms typically have been organizations with well-defined structure. As COVID drastically changed working environments, more remote work and flexible schedules started shifting how...