covid19 cares act Paycheck Protection Program Loan Forgiveness

So finally, your clients were lucky enough to lay their hands on the money put on the table by the CARES Act in the form of PPP loans! Congratulations! By the way, those clients still wanting to get a piece of this cake, they do not need to worry, more funding is already approved, so

covid19 cares act Cares Act-Some implications for your business from an income tax perspective

Changes to Net Operating Loss (NOL) Rules for Corporations (CARES Act Sec 2303) Rule per TCJA prior to CARES Act: NOL carryback is disallowed and carryover is allowed indefinitely but its use is limited to 80% of taxable income for the year. Changes to this rule per CARES Act are as under: Losses from 2018,

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