International Tax Accountants Firm
Phishing Taxpayers should be on the lookout for possible fake emails or websites seeking to steal personal information. The IRS will never initiate contact with taxpayers via email regarding a tax bill, refund, or economic impact payments. Don’t click on links that claim to be from the IRS. Beware of emails and websites, which can…
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The IRS compliance guide for 501 (c) (3) describes each organization that qualifies for tax-exempt status under section 501 (c) (3) is further classified as a public charity or a private foundation. Under section 508, each organization is automatically classified as a private foundation unless it meets one of the exceptions listed in section 509…
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The Treasury and the IRS have issued two instructions on the tax treatment of expenses paid with a loan from the Paycheck Protection Program (PPP). 2020-27, released late in the afternoon on November 18, provides sub-regulatory guidance on whether a PPP loan participant who paid or incurred certain deductible expenses can deduct those expenses in…
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