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Home > Federal Tax Update Podcast > 2020-10-19 FAQs Not as Protected from Scrutiny as IRS Hoped
Podcast: Federal Tax Update Podcast
Episode:

2020-10-19 FAQs Not as Protected from Scrutiny as IRS Hoped
Category: Business
Duration: 00:48:02
Publish Date: 2020-10-18 15:33:38
Description:

This week we look at:

  • PPP forgiveness application deadline is not October 31

  • Fax line to send in Forms 1045 and 1139 will shut down at the end of 2020

  • Draft instructions to Form 8895 indicate that IRS not longer seeing charitable deductions as reducing QBI

  • Taxpayer could not claim accrued expenses to restore manufacturing line until following year

  • IRS FAQ on EIP for incarcerated individuals is subject to court review

Copyright 2020, Kaplan, Inc.
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