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IRS Releases Guidance on CARES Changes to Business Interest Expense Limitation and Bonus Depreciation for Qualified Improvement Property

April 22, 2020 CARES Act

The IRS has released guidance on certain business tax provisions of the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act. Released on Friday, April 10, Rev. Proc. 2020—22 informs taxpayers how to make certain elections with respect to the newly relaxed business interest expense limitation and provides real estate and…

Temporary Blanket Waivers for Certain Stark Law Penalties

April 21, 2020 Healthcare

Among the many federal agency actions taken in response to the health and economic consequences of the COVID-19 outbreak is an interesting and much-unpublicized one related to the Stark Law, a healthcare fraud and abuse law that prohibits physicians from referring patients for certain designated health services paid for by…

Application of CARES Act to Tax-Exempt Organizations

April 14, 2020 Tax Exempt Organization

The CARES Act provides enhanced financial support for businesses and other eligible entities suffering from the continuing COVID-19 pandemic. While much of the CARES Act provides relief to for-profit businesses (see our previous post), there are specific provisions for nonprofits and tax-exempt organizations (collectively “TEOs”) which help support the operations…