by Rupinder | Oct 13, 2020 | Uncategorized
The IRS, for the first time, is adding barcode technology to the CP14 and CP14 IA notices. “Starting this month, the CP14 and CP14 IA notices that inform taxpayers that they owe money on unpaid taxes and their payment options are now equipped with QR bar codes to help...
by Rupinder | Oct 11, 2020 | Uncategorized
Treasury and the White House are urging Congress to pass a stand-alone Paycheck Protection Program (PPP) bill as stimulus talks between the Trump administration and Democratic congressional leadership have stalled. “Now is the time for us to come together and...
by Rupinder | Oct 8, 2020 | Uncategorized
The U.S. Small Business Administration, in consultation with Treasury, unveiled late in the evening of October 8 a simpler loan forgiveness application for Paycheck Protection Program (PPP) loans of $50,000 or less. “The PPP has provided 5.2 million loans worth $525...
by Rupinder | Oct 8, 2020 | Uncategorized
The IRS is temporarily allowing taxpayers to fax the required separate copy of Form 8886, Reportable Transaction Disclosure Statement with the Office of Tax Shelter Analysis (OTSA). “The IRS will accept the separate OTSA copy of the initial year filing of Form 8886...
by Rupinder | Oct 7, 2020 | Uncategorized
The U.S. Small Business Administration (SBA), in consultation with Treasury, released updated FAQs for the Paycheck Protection Program (PPP) late in the evening on October 7. The sub-regulatory guidance is intended for both lenders and borrowers participating in the...
