The IRS has issued final regulations providing additional guidance on the limitation on the deduction for business interest under Code Sec. 163(j). The regulations finalize various portions of the proposed regulations issued in 2020 with few modifications. They address the application of the limit in the context of calculating adjusted taxable income (ATI) with respect […]
The IRS has released final regulations that address the changes made to Code Sec. 162(f) by the Tax Cuts and Jobs Act (TCJA) ( P.L. 115-97), concerning the deduction of certain fines, penalties, and other amounts. The final regulations also provide guidance relating to the information reporting requirements for fines and penalties under Code Sec. […]
The IRS will begin accepting and processing 2020 tax year returns for individual filers on Friday, February 12, 2021. This start date will allow the IRS time to do additional programming and testing of its systems following the December 27 tax law changes that provided a second round of Economic Impact Payments and other benefits. […]
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Tax time is here! You may need a top-rated CPA in San Francisco to do your taxes as they seem to get more complicated every year. This year, we have a number of unusual tax provisions due to the Pandemic, so you can’t just take your business taxes down to the big box tax guys.
Corporations are rushing to get their taxes filed on time for 2021. What a year 2020 was, right? Well, for corporations in San Francisco it was the best of times (for some) and the worst of times (for others).
San Francisco, California – February 2, 2021. Safe Harbor CPAs, a top-rated accounting firm in San Francisco, California at is proud to announce a new post on tax return preparation for San Francisco businesses.