Tax deductions

The U.S. Small Business Administration and the Treasury Department are making it easier for companies to get their Paycheck Protection Program loans of $50,000 or less forgiven.

The CARES Act will play a critical role, according to Grant Thornton.

The Internal Revenue Service issued guidelines Wednesday scaling back a tax break for client entertainment, following through on an element of President Donald Trump’s 2017 tax overhaul that he has said he wants to reverse amid the virus pandemic.

The IRS aims to clarify issues raised by the Tax Cuts and Jobs Act.

At the center of President Donald Trump’s dispute with the IRS is a $72.9 million tax refund. He can thank his predecessor for that benefit.

Deductions for haircuts, consulting fee write-offs, a family estate that is treated as a business property and an aggressive refund claim could open President Donald Trump to legal risks once he’s out of office.

The Internal Revenue Service and the Treasury Department issued the last set of final regulations to implement the 100 percent additional first-year depreciation deduction from the Tax Cuts and Jobs Act.

Taxpayers can use the rates to substantiate the expenses they can deduct for lodging, meals and incidental expenses.

The Internal Revenue Service has completed its first settlement order with the operator of a syndicated conservation easement scheme as part of a broader crackdown on what the IRS views as abusive tax scams.

The limitation on net operating losses under the 2017 tax reform were mostly reversed in the stimulus package in March, but there are some complexities to keep in mind.