Leaderboard

If you filed Form 56 - Notice Concerning Fiduciary Relationship - with the IRS you will be able to have access to whatever transcripts are available. I became an administrator of an estate a little over 2 years after date of death, filed Form 56, and when I called about getting transcripts and asked if they needed an 8821/2848 was told Form 56 allows me to do anything. Haven't needed anything other than the transcripts but hope they meant it!

https://www.irs.gov/pub/irs-drop/rr-21-02.pdf reflects changes to law contained in the COVID-related Tax Relief Act of 2020, enacted as part of the Consolidated Appropriations Act, 2021 (Act), Public Law 116-260, which was signed into law on Dec. 27, 2020. Subscribe to the IRS Newswire [email protected] for the latest news.

1. Be very careful with EIDL Loans, There are a lot of very restrictive covenants that could hamstring a business. 2, Yes you can do both a PPP Loan and the retention credit, but you have to really thread the needle to make them both work together. 3. I have one client who qualifies for a second PPP Loan, which we are seriously considering since it offers the most flexibility.

A good CAA course is coming up at 2pm today by KnoxTaxes. Register here: https://www.bigmarker.com/taxaroo/Consolidated-Appropriations-Act-of-2021-2-CE-CPE-6dfe5d327564f39f7c7c0791?show_live_page=true