Posts in Federal Tax

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 Our firm's legal position on the full deductibility of expenses incurred with PPP loan ...

Apr 01 SBA Paycheck Protection Program Guidance

by John Anthony Castro, J.D., LL.M. Introduction The Small Business Administration (SBA) has released its guidance with respect to ...