IRS FAQs on Taxation of Provider Relief and Coronavirus Relief Funds

The Internal Revenue Service has issued a brief Frequently Asked Questions memo on the taxation of payments from provider relief and coronavirus relief funds, which generally don’t give the response that many had hoped for. These FAQs may raise a number of issues for providers and others who receive money under these programs. According to…

New IRS Guidance Eliminates all Tax Benefits of PPP Loan Forgiveness

A special report from Ted Cuppett of The Health Group The IRS has released guidance (Notice 2020-32) to explain that a taxpayer that receives a loan through the Paycheck Protection Program (PPP) is not permitted to deduct expenses that are normally deductible under the Code, to the extent the expenses were reimbursed by a PPP…

Internal Revenue Service Stepping Up Enforcement of Affordable Care Act

By Guest Writer Gregg Kasubuchi, Vice President at First Capitol Mr. Kasabuchi will speak further on this topic at the Home Care and Hospice Conference & Expo in Seattle this October! Expect the Internal Revenue Service to become more assertive in efforts to enforce the Affordable Care Act in the summer of 2019. IRS staff…

The IRS Is Issuing New ACA Penalties and Home Health Faces a Special Danger

— Guest article written Gary Davis | VP Marketing & Communications at First Capitol Consulting The Internal Revenue Service (IRS) is now issuing a new set of financial penalties as part of the agency’s ongoing enforcement of the Affordable Care Act and home health operators are particularly vulnerable to these penalties. In fact, some home health…