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March 2021

Mar 30 - President Biden signs legislation extending PPP (COVID-19)

Mar 30 - IRS guidance for students, higher education institutions on reporting emergency financial aid (COVID-19)

Mar 29 - Notice 2021-21: Additional tax deadlines extended to May 17; Form 990 series not included

Mar 25 - Congress passes bill extending PPP through June 30, 2021

Mar 25 - SBA notice for applications, “Shuttered Venue Operators Grant” awards for 2021

Mar 22 - SBA to accept “Shuttered Venue Operators Grant” applications beginning April 8, 2021

Mar 18 - SBA interim final rule concerning PPP loans, reflecting Rescue Act measures

Mar 18 - Updated FAQs about “Shuttered Venue Operators Grant” program

Mar 18 - IRS memo for TE/GE division; interim guidance on 9100 relief for exemption applications

Mar 17 - IRS to extend tax filing deadline to May 17; Form 990 series not listed

Mar 17 - Updated FAQs on PPP loans

Mar 15 - Legislative changes to “Shuttered Venue Operators Grant” program and PPP eligibility requirements

Mar 15 - IRS addresses electronic filing of Form 990-T

Mar 15 - KPMG report: Employer’s role in Rescue Act COBRA subsidies and tax credits

Mar 11 - “Qualified disaster” declaration allowing employer-sponsored charities to provide relief (Louisiana)

Mar 11 - President Biden signs COVID relief legislation

Mar 10 - Congress passes COVID relief legislation

Mar 10 - Compensation and benefits-related provisions in COVID relief bill

Mar 10 - Updated information on “Shuttered Venue Operators Grant” program

Mar 6 - Senate passes its version of COVID-19 relief bill

Mar 5 - KPMG report: Notice 2021-20 provides much anticipated guidance regarding the employee retention credit for 2020

Mar 3 - IRS memo for TE/GE examiners; interim guidance on “section 506 notifications”

Mar 3 - Updated FAQs on PPP loans; guidance on second draw PPP loans

Mar 1 - Notice 2021-20: FAQs on employee retention credit, and Paycheck Protection Program loans (COVID-19)

January 2021

Jan 29 - IRS provides recordkeeping relief; increased deduction limits for corporate cash contributions for disaster relief

Jan 28 - IRS guidance (updated FAQs), tax credits for small and midsize employers providing paid leave (COVID-19)

Jan 25 - KPMG report: Review of compensation and benefits-related tax provisions in Consolidated Appropriations Act, 2020

Jan 20 - KPMG report: COVID relief extended for qualified opportunity funds and investors

Jan 20 - Notice 2021-10: Additional relief for qualified opportunity zones and investors (COVID-19)

Jan 19 - KPMG report: Full deduction for business meals provided by a restaurant

Jan 19 - Notice 2021-6: Information returns and payee statements waived regarding PPP, other relief programs (COVID-19)

Jan 19 - Notice 2021-11: Employee payroll tax deferral, further postponed (COVID-19)

Jan 15 - Final regulations released to Federal Register: Excise tax for excess remuneration and excess parachute payment

Jan 15 - Rev. Rul. 2021-3: Covered compensation tables for 2021 plan year

Jan 14 - KPMG report: Final section 4960 regulations on excise tax for excess remuneration and excess parachute payment for applicable tax-exempt organizations

Jan 11 - Final regulations: Excise tax on excess compensation, parachute payments made by tax-exempt organizations (text of regulations)

Jan 11 - Proposed regulations: Mandatory 60-day postponement of tax deadlines, federally declared disasters

Jan 6 - Rev. Rul. 2021-2: Deduction of eligible expenses allowable, PPP loan forgiveness

Jan 5 - Final regulations pending OIRA review: Excise tax on tax-exempt organization compensation

Jan 5 - Expanded employee retention credit, charitable-giving provisions among tax measures enacted at end of 2020

Jan 5 - IRS releases Form 990 draft instructions for 2020

Jan 5 - New TE/GE compliance initiatives

Jan 5 - Rev. Proc. 2021-8 and annual revenue procedures; revised process for Form 1024-A for section 501(c)(4) determinations  

Jan 4 - Notice 2021-7: Temporary relief to value personal use of employer-provided automobile (COVID-19)

2020 Articles

December 2020

Dec 28 - President signs year-end funding, COVID-19 relief legislation; tax provisions are enacted

Dec 22 - Notice 2021-2: Standard mileage rates for 2021

Dec 22 - Legislative update: Year-end funding and COVID relief legislation; charitable giving provisions extended, expanded

Dec 17 - IRS memorandum for TE/GE employees, examination timelines again modified (COVID-19)

Dec 16 - Notice 2021-01: Delayed e-filing requirements, Form 4720 filed by private foundations

Dec 16 - IRS confirms emergency relief grants to students are not reported on Form 1098-T (COVID-19)

Dec 15 - Final regulations released to Federal Register: Parking deduction limitations under section 274

Dec 14 - “Qualified disaster” declaration allowing employer-sponsored charities to provide relief (Alabama)

Dec 11 - Final regulations: Grandfathered group health plans, health insurance coverage

Dec 10 - KPMG report: Final regulations addressing parking deduction limitations under section 274

Dec 10 - Updated FAQs on PPP loans; questionnaires to verify loan eligibility and forgiveness

Dec 9 - Form 990 series and instructions for 2020

Dec 9 - Notice 2020-86: Q&A guidance on safe harbor retirement plans

Dec 9 - “Qualified disaster” declaration allowing employer-sponsored charities to provide relief (Puerto Rico)

Dec 9 - Final regulations: Qualified transportation and commuting expenses under section 274 (text of regulations)

Dec 2 - KPMG report: Separately computed UBTI, analysis of final regulations

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