Tax and Auditing

25 09, 2020

COVID Intensifies Wayfair Ruling Impact

By |2020-10-05T18:25:28+00:00September 25th, 2020|COVID-19, Small Business, Tax and Auditing|Comments Off on COVID Intensifies Wayfair Ruling Impact

State tax collections have nosedived as much as 50 percent in the fallout of the coronavirus pandemic. All states, without question, will face significant fiscal challenges as a result of the COVID-19 pandemic. However, as [...]

24 06, 2020

The Impact of the CARES Act on NOLs

By |2020-06-25T17:19:46+00:00June 24th, 2020|COVID-19, Tax and Auditing|Comments Off on The Impact of the CARES Act on NOLs

In addition to providing economic relief to individuals and loans to businesses struggling during the coronavirus crisis, the Coronavirus Aid, Relief, and Economic Security (CARES) Act changed some tax provisions to ensure firms survive a [...]

13 05, 2020

SBA’s Guidance on PPP and Employee Refusal to be Rehired

By |2020-05-13T21:40:32+00:00May 13th, 2020|COVID-19, Tax and Auditing|Comments Off on SBA’s Guidance on PPP and Employee Refusal to be Rehired

The team at Sousa & Weber have had several inquiries related to employee layoffs and rehires with respect to the Paycheck Protection Program (PPP). Some employers are finding it difficult to get hourly employees to [...]

4 05, 2020

IRS Guidance for Accounting for PPP Loans

By |2020-05-13T21:59:12+00:00May 4th, 2020|Accounting Tips, COVID-19, Sousa & Weber News, Tax and Auditing|Comments Off on IRS Guidance for Accounting for PPP Loans

The IRS has issued new guidance related to the accounting for PPP loans in Notice 2020-32.  The IRS’ position is that while loan forgiveness is excluded from gross income, the expenses that resulted in qualification [...]

24 03, 2020

Updated 2019 Tax Filing & Payment Dates

By |2020-05-13T21:59:31+00:00March 24th, 2020|Corporate Tax, COVID-19, Individual Income Taxes, Tax and Auditing|Comments Off on Updated 2019 Tax Filing & Payment Dates

Just a reminder that the Federal income tax filing deadline for 2019 individual and business income tax returns has been automatically extended from April 15, 2020, to July 15, 2020.  Taxpayers can also defer Federal income tax [...]

29 01, 2020

What You Need to Know About Multi-State Income Taxation

By |2020-01-31T22:19:10+00:00January 29th, 2020|Corporate Tax, Individual Income Taxes, Tax and Auditing|Comments Off on What You Need to Know About Multi-State Income Taxation

Filing state income tax returns is usually uncomplicated if you live and work in the same state during the entire calendar year, and have no income sourced from a state other than the state in [...]

31 10, 2019

Becoming DCAA Compliant

By |2019-10-31T14:12:24+00:00October 31st, 2019|Business Consulting, DCAA Accounting, Tax and Auditing, Tax Compliance|Comments Off on Becoming DCAA Compliant

The federal government is committed to supporting businesses by taking steps to ensure that government contracts are awarded to companies of all sizes. A critical part of government contracting is making sure your business accounting [...]

1 11, 2018

1031 Exchanges Under the 2018 Federal Tax Code

By |2018-11-01T23:43:50+00:00November 1st, 2018|Tax and Auditing|Comments Off on 1031 Exchanges Under the 2018 Federal Tax Code

Since its signing into law on December 22, 2017, the Tax Cut and Jobs Act has created a number of changes to the tax code, leaving many uncertain as to how the changes will impact [...]

Go to Top