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Individual Tax Planning Under COVID-19

Since mid-March, we have been in unprecedented times due to the COVID-19 Pandemic. The country has been shut down for more than two months and only now

Cash Flow and Liquidity Planning Opportunities

Introduction The quote “cash is king” has never been truer than in the first half of 2020. The COVID-19 pandemic has thrust cash flow and liquidity

House Democrats Release Details of Proposed HEROES Act

This article contains information that is current as of mid-day May 14, 2020. Check back soon for updated information on the HEROES Act. On May 12, House

Pennsylvania EITC Applications Open May 15

The application process for Education Improvement Tax Credits (EITC) opens on May 15 for businesses in year two of their contribution commitment and for

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Tax Accounting/Provision Considerations Due to COVID-19

In the midst of the COVID-19 pandemic and the tax law changes within the CARES Act, companies are starting to consider the impact to their financial statements.

Deductions Disallowed for Expenses Related to Payroll Protection Program Loan Forgiveness

On April 30, 2020 the IRS released Notice 2020-32 (the Notice) answering a major tax question involving the Paycheck Protection Program (PPP); understandably,

Amended Regulation Provides Relief for Importers amid the COVID-19 Crisis

Importers, like many other businesses, have faced a severe decline in revenues in the last three months. This decline is due, in large part, to the federal,

Pennsylvania Education Tax Credits and COVID-19

The contribution deadline for Pennsylvania’s popular Educational Improvement Tax Credit (EITC) program has been extended due to the COVID-19 pandemic.

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Pennsylvania Tax Officials State that Teleworkers Will Not Create Nexus for State Taxes

Stay-at-home orders in effect across the country have forced a large portion of the American work force to work from home. Businesses transitioning their

COVID-19 Employer Payroll Tax Deferral FAQ Issued by IRS – Combining PPP and Payroll Tax Deferral

The CARES Act allows for multiple tax strategies for companies to manage cash flow during the COVID-19 pandemic. As discussed in a previous Schneider Downs

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