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IRS Spotlights Upcoming Tax Filing Season

As part of a series of reminders, the IRS has urged taxpayers get ready for the upcoming tax filing season. A special page ( https://www.irs.gov/individuals/steps-to-take-now-to-get-a-jump-on-next-years-taxes), updated and available on the IRS website, outlines steps...

PPP Deduction Safe Harbor if Loan Not Forgiven

The IRS has released rulings concerning deductions for eligible Paycheck Protection Program (PPP) loan expenses. The rulings: deny a deduction if the taxpayer has not yet applied for PPP loan forgiveness, but expects the loan to be forgiven; and provide a safe harbor...

Heckler & O’Keefe CPAs, P.C. is a full-service accounting firm with a long history and a steady path to the future which will successfully guide you in this complex and ever-changing world.

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