Posts in Federal Tax

Dec 30 The Case for Deducting Child Care Expenses

by John Anthony Castro, J.D., LL.M. Introduction For the first 144 years since the founding of our country, it was illegal for a ...

Jun 27 Section 165(i) Disaster Loss Deduction

by John Anthony Castro, J.D., LL.M. Executive Summary You can amend your 2019 U.S. federal income tax return to effectively ...

Jun 25 Section 139 Pandemic Disaster Relief Payments

by John Anthony Castro, J.D., LL.M. Executive Summary Companies can make “qualified disaster relief” payments under Section 139 ...

Jun 05 The Flex Act Favorably Modifies the Paycheck Protection Program to Make Loan Forgiveness Easier

by John Anthony Castro, J.D., LL.M. On June 3, 2020, the U.S. Senate unanimously approved H.R. 7010, the Paycheck Protection ...

Jun 04 Tax-Free $100,000 IRA Withdrawal for Coronavirus Pandemic under CARES Act

by John Anthony Castro, J.D., LL.M. In summary, if the quarantine caused any adverse financial consequences, a phase so broad that ...

May 07 Expenses Paid with a Forgiven PPP Loan are Deductible, IRS is Wrong

by John Anthony Castro, J.D., LL.M. Update (12/27/2020) Congress passed the new COVID Relief Package (officially titled the ...