The CARES act provides that PPP loan forgiveness does not trigger taxable income. However, on April 30, 2020, the IRS issued Notice 2020-32, asserting that forgiven PPP loan proceeds used for otherwise allowable business expenses are not deductible on the 2020 tax return. The practical...

Stacey Goodmen Tapped to Lead Corporate Tax Advisor’s Cost Segregation and Energy Incentives Practice Expert brings more than a decade of experience in tax-related energy and cost savings consultancy work and extends firm’s reach into Charleston market Charleston, SC (September 17, 2020) – Corporate...

United States TAX COURT WASHINGTON, DC 20217 POPULOUS HOLDINGS, INC., Petitioner(s), v. COMMISSIONER OF INTERNAL REVENUE, Respondent Docket No. 405-17. ORDER On March 15, 2019, the parties filed cross-motions for summary judgment on the issue of whether petitioner is entitled to a credit...