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S Corporation subject to IRS scrutiny, plus bonus on developments

Similar to the IRS focus on partnership that we shared in our last week post, the S Corporation is another higher scrutiny entity type for the IRS. Back in June 2024, the IRS Chief Counsel Margie Rollinson announced the creation of new Associate Office that would focus on partnerships, S Corporations, trusts and estates. She

By |2024-10-24T03:43:00+00:00November 7th, 2024|Categories: Business, Individuals|Tags: , , , , , , , , , |
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New PPP forgiveness applications released on Jan 19, 2021 – Under $150k no submission of support

In some of our previous posts, we mentioned that the financial institutions, Chambers of Commerce, small business groups, etc. were pushing for the increase of the threshold of form 3508 from the initial amount of $50,000 to the $150,000.  In fact, some of the financial institutions stopped the forgiveness process intake (or never started it)

By |2021-01-22T22:18:46+00:00January 19th, 2021|Categories: Business|Tags: , , , , , |
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