Let’s look at three issues that contractors should keep an eye on in light of the CARES Act: payroll, losses and qualified improvement property.
The CARES Act and Construction: Keeping an Eye on Taxes
Tag: CARES Act
The CARES Act Makes Favorable Changes to Net Operating Losses
You may be able to benefit by carrying a net operating loss (NOL) into a different year — a year in which you have taxable income — and taking a deduction for it against that year’s income.
CARES Act Makes Favorable Changes to “Qualified Improvement Property”
The CARES Act contains a beneficial change in the tax rules for many qualified improvement properties.
COVID-19 Employment Tax Deposit Relief Guidance Issued by IRS
The IRS has issued guidance providing relief from failure to make employment tax deposits for employers that are entitled to the refundable tax credits provided under two laws passed in response to the coronavirus (COVID-19) pandemic.
FAQs: CARES Act Employee Retention Tax Credit
The recently enacted CARES Act provides a refundable payroll tax credit for certain employees during the COVID-19 pandemic.
CARES Act Provides Businesses with More Relief
Here are some of the tax-related provisions in the Coronavirus Aid, Relief, and Economic Security Act (CARES Act).