Ideas & Insights

Procedures provide guidance for the retroactive expensing of qualified improvement property and reconsidering of elections.

Corporate taxpayers filing a consolidated return have an added layer of rules to navigate when carrying back a net operating loss.

Recent guidance provides that certain deadlines, including the allowable time to invest in a QOF, are now extended because of COVID-19.

As businesses renegotiate debts in the aftermath of COVID-19, it is critical to understand whether the debt is considered publicly traded.

Accelerating worthless stock deductions on an insolvent subsidiary without disposing of the business to increase NOL carrybacks.

Immediate and retroactive expensing of qualified improvement property creates tax saving opportunities for taxpayers.

State and local tax opportunities are available for restaurants for cash flow maximization and support during the pandemic.