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Kirk Mitchell

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House Democrats Release Details of Proposed HEROES Act

This article contains information that is current as of mid-day May 14, 2020. Check back soon for updated information on the HEROES Act. On May 12, House

Deductions Disallowed for Expenses Related to Payroll Protection Program Loan Forgiveness

On April 30, 2020 the IRS released Notice 2020-32 (the Notice) answering a major tax question involving the Paycheck Protection Program (PPP); understandably,

The Employee Retention Credit – Significant IRS Guidance Just Released

As discussed in our article on March 30, “2020 CARES Act - The Employee Retention Credit”, the CARES Act (the Act) provided for a new employer

CARES Act Net Operating Loss Guidance Issued

The Tax Cuts and Jobs Act of 2017 reduced the ability of most businesses to carry-back net operating losses while providing for unlimited carryforwards.

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CARES Act - Modification of Limitation on Business Interest Deductions

The Tax Cuts and Jobs Act (TCJA) placed limits on the deductibility of business interest under Section 163(j) of the Internal Revenue Code. In general,

Effective Date for Implementation of Families First Coronavirus Response Act (FFCRA) is April 1: Exemptions for Small Employers

New Emergency Paid Sick Leave Act and Emergency Family and Medical Leave Expansion Act provisions under the FFCRA take effect on April 1, 2020. In general,

CARES Act - The Employee Retention Credit

Current as of April 2, 2020 The final version of the Coronavirus Aid, Relief and Economic Security (CARES) Act includes a new payroll related tax credit

Senate Passes the CARES Act – $2 Trillion Relief Package Moves to the House

In response to the Global pandemic caused by COVID-19, or more commonly called the Coronavirus, the United Sates has enacted the Coronavirus Aid, Relief,

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Tax Impact of the Coronavirus Bill H.R.6201 Part 2

Current as of March 19, 2020 Introduction and Executive Summary On March 20, 2020 the U.S. Treasury Department, Internal Revenue Service (IRS), and the

Tax Impact of the Coronavirus Bill H.R.6201

Current as of March 19, 2020 Last night, President Trump signed H.R. 6210, The Families First Coronavirus Response Act (the Act) into law. The Act has

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