Perspectives

The Consolidated Appropriations Act of 2021 included a provision for calendar year 2021 and 2022 to allow businesses to deduct 100% of expenses for meals if they are “provided by a restaurant.” Read more

Similar to the IRS’ decision, there is no extension in Massachusetts for estimated tax payments that are due on April 15th, 2021. Read more

DGC is still urging all clients to send us your 2020 tax information as soon as possible. Read more

Despite this delay, DGC is still urging all clients to send us your 2020 tax information as soon as possible. Read more

We have been waiting for tax guidance concerning the treatment of expenses used to seek forgiveness of PPP Loans and now we have it. Read more

Lenders have been told that they should not file cancellation of debt (Form 1099-C) to borrowers for forgiveness of debt related to the Paycheck Protection Program. Read more

The guidance is brief, and private employers still have questions about whether, and how, to implement the deferral. Read more

Overdue balance notices for the 2019 taxable year are still being sent to taxpayers, even to those who mailed in their payment on time, because the checks have not been processed yet. Read more

The CARES Act extends favorable tax treatment to qualified individuals who take “coronavirus-related distributions” from IRAs, 401(k) plans and certain other retirement plans. Read more

The IRS has announced extended deadlines for purposes of the new markets credit, along with the due dates for making investments, making reinvestments, and expending amounts for construction of real... Read more