Current Federal Tax Developments
Current Federal Tax Developments
Edward Zollars, CPA
2020-08-10 Deferring Employee FICA - Forgiveness?
1 seconds Posted Aug 9, 2020 at 2:16 pm.
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This week we look at:

  • Summary of §163(j) final regulations SBA publishes PPP loan forgiveness FAQ

  • IRS reminds employers of ability to establish leave sharing plans for employees to provide COVID-19 relief

  • Proposed revenue procedure released to allow qualified residential living facilities to be §163(j) real estate businesses

  • IRS updates qualified plan safe harbor distribution notices for SECURE Act and CARES Act changes

  • President issues memorandum providing for deferral of employee OASDI, but leaves open issue of whether amounts will be forgiven

An audio only version of this week’s broadcast can be streamed or downloaded below.

A PDF with articles on this week’s developments can be downloaded below:

2020-08-10 Current Federal Tax Developments