Congress has authorized a second round of PPP loans. These second draw PPP loans will be forgivable as long as they are spent on the expected expenditure categories, like payroll. Continue reading
IRS Notice 2020-32 interprets the PPP loan forgiveness provisions to reduce the ordinary business deductions by the amount of the forgiven loan. This gets most businesses to nearly the same position as if they had not received the CARES Act tax benefit at all. Continue reading
The application for the Payroll Protection Program (PPP) has been released. For companies facing possible issues in making payroll in the short term, this is a great program to help ensure you can keep your employees on the payroll. Continue reading
MARPA has been asked to sign onto a letter supporting a bill that would repeal Subtitle B of the Internal Revenue Code of 1986 that relates to estate, gift, and generation-skipping taxes. Is this something our members support? We want to hear from you. Continue reading
Permanent adoption of higher levels of section 179 expensing would help manufacturers invest in production and test with greater confidence. There is a chance that Congress could adopt those higher expensing levels on a permanent basis in the next two weeks. Continue reading
Don’t forget that the 2013 MARPA Winter Meeting will be held in Washington, DC on February 12, 2013. Continue reading
The deal averting the fiscal cliff is more than merely an agreement setting tax rates; it includes numerous authorizations and reauthorizations that affect a wide variety of people and businesses. Some of our favorite tax deductions were scheduled to ‘go over the cliff’ and this bill reauthorizes them. Continue reading
The MARPA 2012 Conference will be held in a month, on October 3-5, 2012 at the Renaissance Las Vegas Hotel. But the deadline for making hotel reservations at the discounted rate is Monday, September 3! Continue reading
The MARPA 2012 Conference will be held October 3-5, 2012 at the Renaissance Las Vegas Hotel. Please make your reservations early for the Conference: the hotel has sold out early for the past several years and we expect the hotel to sell out again this year.
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The IRS has issued new tax guidance that affects parts, materials and supplies. Some of these regulations will affect PMA parts manufacturers, while other will affect their customers (and may affect their future buying patterns). Continue reading
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