EYUS IRS gives relief to taxpayers making Section 163(j) elections
|Tax Alerts, National/Federal Taxation, L ...|United States
In Revenue Procedure 2020-22, the United States (US) Internal Revenue Service (IRS) granted relief for real estate and farming businesses that want to withdraw or make late Internal Revenue Code Section1 163(j) elections based on provisions of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act).
The CARES Act added new Section 163(j)(10), which increases the amount of business i…
Continue Reading
