Federal Tax Updates

Timely analysis of federal tax law changes, guidance, and developments affecting practitioners.

Recovery Rebate Restlessness

Does Punxsutawney Phil have the Cure for “Recovery Rebate Restlessness” Syndrome? If you are a follower of our weekly blogs or perhaps attended the Get Ready for Filing Season webinar…

PPP Loan Forgivable for Farmers in 2nd Round

PPP Loan Forgivable for Farmers in 2nd Round Friend of Tax School Larry Gray, CPA, is back again as a guest blogger this week. He has a video sharing exciting…

More New Tax Legislation to Digest

Welcome to 2021…and More New Legislation to Digest While I hope most of you could enjoy some downtime during the holidays, the same can’t be said for Congress. While the…

FFCRA Sick Leave Credits Explained

FFCRA Sick Leave Credits Explained The Families First Coronavirus Response Act (FFCRA) provides paid sick leave, free COVID testing, expanded food assistance and unemployment benefits, and increased Medicaid funding. It…

Are Expenses Paid with Forgiven PPP Loan Proceeds Tax Deductible?

Year-End planning hits a brick wall of congressional inaction. Are expenses paid with forgiven PPP loan proceeds tax deductible or not? See update to post from January 12, 2021 below….

Social Security Administration Announces 2021 Social Security Changes

2021 Social Security Changes On October 13, 2020, The Social Security Administration released their 2021 Fact Sheet, which announced the changes that will impact benefit recipients in 2021. Having this…