- IRS rules taxpayers cannot deduct expenses that qualify for PPP loan forgiveness if reasonably expect forgiveness
- Revenue Procedure issued for taxpayer who didn’t get the entire expected forgiveness in the end
- IRS adds request for additional information on Schedules K-1 for Form 1120-S for 2020
- IRS Commissioner indicates there will not be any sort of broad relief for late filing and late payment of taxes
- No relief for late filing when CPA firm submitted efile return a few seconds late
- IRS updates ERC FAQ to deal with acquisition of employers who had taken out PPP loans
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