IRS Sending Letters Related to Qualified Opportunity Funds (IR 2020-274)
February 23, 2021
The IRS has started sending letters to taxpayers “who may need to take additional actions”
Tag: Dr. John Connors
IRS Issues Like-kind Exchange Final Regs (TD 9935)
February 16, 2021
The IRS has issued final regs to implement recent statutory changes to Code §1031 regarding
Safe Harbor for Certain PPP Loan Participants (Rev. Proc. 2020-51)
January 26, 2021
The IRS has issued a safe harbor allowing a taxpayer to claim a deduction in
Congress Acts on Expense Deductibility When a PPP Loan Is Forgiven
January 19, 2021
Normally, when a debt is cancelled or forgiven, Code §61(a)(11) dictates that the amount forgiven
IRS Clarifies Deadlines for Like-kind Exchanges
December 29, 2020
In an answer to a question posted on its website, the IRS has clarified that
Failing to Satisfy One Requirement Invalidated Deduction for Conservation Easement
December 22, 2020
A partnership conveyed a conservation easement to a charity. Under the terms of the deed
Guidance on QIP Changes to Depreciation (Rev.Proc. 2020-25)
November 24, 2020
The IRS has issued guidance which allows a taxpayer to change its depreciation pursuant to
IRS Launches Centralized Partnership Audit Website (IR 2020-199)
November 17, 2020
The IRS has launched its Bipartisan Budget Act (BBA) Centralized Partnership Audit Regime website. Under