News & Analysis as of August 8, 2025

CARES Act

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A repository for the most well-read content on JD Supra at any given time, along with occasional roundups of popular content by specific topic. Also stop by for monthly recaps of hot articles for the previous... more +

The One Big Beautiful Bill Act Changes Employee Retention Tax Credit Program

Fox Rothschild LLP on 8/5/2025

While the One Big Beautiful Bill Act made headlines for tax and spending cuts, it also contains significant changes to the federal government’s treatment of COVID era Employee Retention Tax Credit (ERC) claims — many of which...more

What the IRS is Saying Lately about the Employee Retention Tax Credit

Jackson Walker on 8/11/2023

The employee retention tax credit (“ERTC”) has garnered a lot of “buzz” lately – both from the IRS and businesses who have either received the credit or are seeking the credit. The buzz is well deserved, as the IRS has...more

How IRS Is Cracking Down on Employee Retention Tax Credit Fraud

DarrowEverett LLP on 8/8/2023

The Internal Revenue Service (“IRS”) has recently devoted great attention to detecting, investigating, and prosecuting fraud, particularly as it relates to the Employee Retention Tax Credit (“ERC”) post-COVID. On a webinar...more

A Trap for the Unwary – IRS Denies Deductions for Expenses Paid with Forgiven PPP Loans

Bowditch & Dewey on 9/3/2020

A central feature of the CARES Act, the Paycheck Protection Program (PPP), provided a lifeline to a multitude of small businesses during the early days of the Coronavirus pandemic. PPP loans were used to cover payroll...more

IRS Provides More Good News with Respect to Retirement Plan Required Minimum Distributions

Nutter McClennen & Fish LLP on 7/15/2020

The Internal Revenue Service released Notice 2020-51, Guidance on Waiver of 2020 Required Minimum Distributions, pertaining to the waiver of 2020 required minimum distributions as described in Section 401(a)(9) of the...more

IRS Issues Helpful Guidance for Retirement Plans Under the CARES Act

Bradley Arant Boult Cummings LLP on 6/24/2020

The Internal Revenue Service (IRS) recently issued Notice 2020-50 to provide retirement plans with guidance under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). The extensive guidance provides helpful...more

IRS Issues Guidance Implementing Coronavirus-Related Retirement Plan Provisions Under the Cares Act

Cozen O'Connor on 6/23/2020

The IRS has issued IRS Notice 2020-50 (the Notice) providing guidance implementing the retirement plan provisions of the Coronavirus Aid, Relief, and Economic Security Act (the CARES Act) that was enacted on March 27, 2020. A...more

IRS Says Forgiven PPP Loans Result in Loss of Deductions; Congress May Change That Result

Vedder Price on 5/20/2020

The Coronavirus Aid, Relief, and Economic Security Act, or the CARES Act, was signed into law by President Trump on March 27, 2020. One of the key economic aid provisions for businesses contained in the Act was the Paycheck...more

IRS Issues Guidance Regarding PPP Loan Forgiveness and Deductibility of Expenses

Schwabe, Williamson & Wyatt PC on 5/5/2020

On April 30, 2020, the Internal Revenue Service (“IRS”) issued Notice 2020-32 (the “Notice”) in which it substantially changed the common understanding of the tax consequences of Payroll Protection Program (“PPP”) loan...more

Tax Effects of PPP Loan Forgiveness – IRS Notice 2020-32

Miles & Stockbridge P.C. on 5/5/2020

On April 30, 2020, the Internal Revenue Service (IRS) issued Notice 2020-32 (the “Notice”) to address the deductibility of loan amounts received under the Paycheck Protection Program (PPP) of the Coronavirus Aid, Relief, and...more

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