Current Federal Tax Developments

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2022-01-24 Forms and Instructions Week

This week we look at

  • IRS issues updated substantially equal payment guidance

  • Final version of basis reporting form for S corporation shareholders issued by IRS

  • IRS clarifies how to report expenses used to obtain PPP forgiveness on Schedule M-2

  • IRS completes guidance on reporting options for timing of PPP loan forgiveness income recognition

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2022-01-24 Forms and Instructions Week Edward K. Zollars, CPA (Kaplan Financial Education)

A PDF with articles for this week’s updates can be downloaded below:

2022-01-24 Current Federal Tax Developments