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Tax Controversy Insights

True Partners Consulting Named One of the 2020 Best Workplaces in Chicago by Great Place to Work

Great Place to Work® has honored True Partners Consulting as one of the 2020 Best Workplaces in Chicago. The ranking considered over 27,000 responses from Chicago area employees. Great Place to Work, a global people analytics and consulting firm, evaluated more than 60 elements of team members’ experience on the job. These included the extent to which employees trust leaders, the respect with which people are treated, the fairness of workplace decisions, and how much camaraderie […]

May 21, 2020

Recently Issued IRS Guidance on the CARES Act Employee Retention Credit

On April 29, 2020, the IRS issued a list of Frequently Asked Questions (“FAQs”) to provide clarification around the Employee Retention Credit (“ERC”), as provided for in the Coronavirus Aid, Relief, and Economic Security Act (“CARES” Act).  As noted in the IRS guidance, these IRS FAQs are not legally binding.  Additionally, these FAQs contain guidance that differs from earlier guidance provided by the April 23, 2020 Joint Committee on Taxation […]

May 7, 2020

New Funding for the Paycheck Protection Program, New IRS Guidance & Prospects for a 4th Phase of Federal Economic Relief in Response to the COVID-19 Crisis

Legislation to provide additional funding to the paycheck protection program and the economic injury disaster loan program has been enacted with more money also being allocated to hospitals and virus testing.  Democrats and Republicans in the Congress and the White House have already begun planning for a “4th phase” of economic relief in response to the devastating impact on the US economy from the COVID-19 crisis.  Although the urgency to […]

May 6, 2020