To enable taxpayers to continue to submit requests for IRS guidance during the coronavirus pandemic, the IRS is temporarily allowing the electronic submission of requests for letter rulings, closing agreements, determination letters, and information letters under the jurisdiction of the IRS Office of Chief Counsel, and for determination letters issued by the IRS Large Business […]
Landlord blasts FedEx for rent reduction request
Fed Ex change of hours and Social Distancing signage due to the COVID-19 coronavirus pandemic on March 22, 2020 in New York City. Bill Tompkins | Getty Images FedEx, citing the devastating impact of Covid-19, requested that its rent be cut in half at some FedEx Office locations for three months, a move sharply criticized […]
CARES Act QIP change requires action
Before the enactment of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, P.L. 116-136, prior law required qualified improvement property (QIP) placed in service subsequent to Dec. 31, 2017, to use a 39-year tax life, and the property was not eligible for bonus depreciation. The CARES Act retroactively changed this recovery period to 15 […]
Federal Reserve seeks banks’ advice as it gets into direct lending with coronavirus relief
A pedestrian walks outside the Federal Reserve Bank building in Washington. Kevin Lamarque | Reuters The Federal Reserve has reached out to investment and retail banks for feedback on its Main Street lending program ahead of its formal launch, according to people familiar with the matter. The central bank earlier this month laid out in […]
Webcast: Estate Planning Amid COVID-19
8 months ago · 1 hour 27 min watch SECTION EXCLUSIVE Slides Navigating through health and wealth concerns created by COVID19 can be daunting. It’s important to cover the basic estate planning needs for your clients. On a positive note, this environment of extremely low interest rates and depressed asset values – along with the […]
UnitedHealth’s Optum is in advanced talks to acquire remote mental health provider AbleTo for about $470 million
Traders work at the post where UnitedHealth Group is traded on the floor of the New York Stock Exchange. Brendan McDermid | Reuters UnitedHealth Group’s Optum is in advanced talks to acquire virtual therapy provider AbleTo for about $470 million, according to people familiar with the deal, at a time when telehealth is more in […]
Time on your hands?
Four weeks into lockdown and many business owners will be feeling the strain. Whether that is from having too much work or none at all. We work with many different businesses and have some who can’t trade at all and others who have kept an income coming in by finding new ways of working. Its […]
Birx: US needs a ‘breakthrough’ on antigen testing to aid in reopening
Deborah Birx, coronavirus response coordinator, speaks during a news conference at the White House in Washington, D.C., U.S., on Wednesday, April 22, 2020. Michael Reynolds | Bloomberg | Getty Images Dr. Deborah Birx, the White House Coronavirus Task Force coordinator, told NBC News’ “Meet the Press” Sunday that while the coronavirus trends give her “great hope” for […]
Where the Heck is My Stimulus Check? If you haven’t gotten it yet, this may be why.
As the COVID-19 emergency created a massive economic crisis, the federal government passed the CARES Act. Key features of the act include stimulus money to help both impacted businesses and individual Americans. For individuals, funds are arriving. However, you may be among those who have not received what you were expecting and aren’t sure why. […]
As coronavirus crushes travel industry, Expedia maps out private equity survival strategy
Visitors browse at the display of Expedia during the International Tourism Trade Fair in Berlin. Fabrizio Bensch | Retuers As online travel giant Expedia struggles to survive the ravages of the coronavirus crisis, private equity has jumped in to help the company stay afloat and potentially ready it for sale when the economy restarts. Apollo […]