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TPC Tax Insights – A Podcast for the Tax Minded

We’re starting a podcast in order to share industry information and introduce smart, interesting, people whose voices we feel need to be heard. We hope to connect our employees, clients and other tax and accounting professionals who may feel isolated or “out of the loop” in this era of COVID19 and global work-from-home. Hosted by Kristin Mauer, a long time TPC team member based on the West Coast, each episode […]

October 28, 2020

Prospects For a 4th Phase of Federal Stimulus & Relief in Response to the COVID-19 Crisis

Congressional Schedule and Prospects   As summarized in past True Alerts (Tax Issues Addressed by COVID-19 Emergency Legislation; Congressional Action on the COVID-19 Pandemic: The CARES Act), Congress has passed several major pieces of legislation to provide economic relief to the US economy and US taxpayers from the impact of the COVID-19 crisis.  Immediately after completing action on the Coronavirus Aid, Relief & Economic Security Act (“CARES Act”), the attention […]

July 15, 2020

IRS Guidance on Expenses Paid with PPP Loans

On April 30, 2020, the Internal Revenue Service (IRS) issued Notice 2020-32 (Notice) which claims that expenses will be nondeductible if paid using loan proceeds that are later forgiven under the Paycheck Protection Program (PPP) of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act).  Background The PPP was established as a low-interest emergency loan program to enable employers to retain employees and cover overhead costs along with the […]

June 12, 2020