Press Room: Tax Release

December 22, 2020

COVID-19 Relief Bill Allows Deductions of Expenses Paid with Forgiven PPP Loans, Makes Business Meals Fully Deductible, Extends Credits

Update: President Trump subsequently signed the COVID-19 relief and spending bill discussed below into law on December 27, 2020. The 5,593-page COVID-19 relief and spending bill passed by Congress (H.R. 133, the Consolidated Appropriations ...

July 19, 2021

California and Arizona Join States With SALT Cap Workarounds

In response to the federal state and local tax (SALT) deduction $10,000 cap enacted as part of the Tax Cuts and Jobs Act (TCJA), California Governor Gavin Newsom signed budget legislation (A.B. 150) that ...

August 10, 2021

Senate Approves Bipartisan Infrastructure Legislation; Releases Budget Resolution Framework

The Infrastructure Investment and Jobs Act approved by the Senate on August 10, 2021 would provide federal funds for public transit, roads, bridges, water and other infrastructure-related items over the next several years. The legislation ...

February 10, 2022

California Expands SALT-Cap Workaround; Eliminates NOL Suspension and $5 Million Credit Limitation

Tax legislation (S.B. 113) signed by Governor Gavin Newsom makes several important tax changes, including expanding the availability and benefit of the state’s pass-through entity (PTE) tax credit, with most provisions ...

April 26, 2024

Navigating the Updated Required Minimum Distribution Rules for IRAs Inherited After 2019

This release provides further updates to Andersen’s for the Record Q3 2022 Newsletter article available here. The Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act), signed into law on ...