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Tax Deadline for Individual (1040) Tax Returns Pushed to May 17, 2021

by Jay Javier | Mar 22, 2021 | COVID-19 Resource Center, Hsiao, Silver Advantage Alerts

By John Hsiao, CPA – Partner On Wednesday, March 17, 2021, the Treasury Department and IRS announced that the federal income tax filing due date for individuals (1040) for the 2020 tax year will be postponed from April 15, 2021 to May 17, 2021. Illinois and various...

Latest IRS Guidance on Non-Deductibility of PPP-Related Expenses

by Jay Javier | Nov 30, 2020 | COVID-19 Resource Center, Hsiao, Silver Advantage Alerts, Tax Planning and Consulting

By John Hsiao, CPA – Partner November 30, 2020 On Novemhhttps://michaelsilver.com/john-hsiao/ttps://michaelsilver.com/john-hsiao/ber 18, 2020, the Internal Revenue Service doubled down on its position that businesses receiving PPP loan forgiveness cannot deduct the...

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