So what did learn from the new interim final rules on forgiveness? A thread:
1. When looking at employees who are not working but still getting paid, their wages are "earned" for purposes of the "paid or incurred rules" on the date they WOULD have been providing services. 2. Wages paid to furloughed employees count towards forgiveness.
3. More importantly, BONUSES are considered compensation for payroll costs. This helps; an employer can bonus out employees up to total comp for the 8-week period of $15,384 to maximize forgiveness.

A thread for parents of young kids about something I learned this summer. Here goes… I’ve got a 10 yo boy. He’s a genuinely happy kid, which should be all you can ask for as a parent. But like most dads, that’s not enough for me, because like most dads, I’m kind of a dick. 1/x It’s not enough for my boy to be happy; I want him to be strong. And brave. And tough. But here’s the thing: he’s still a little boy. He sleeps with his beloved monkeys. He’s scared to go upstairs in our house alone. Most days, it’s tough to get him to turn off SpongeBob. 2/x

Fantastic learning material out of the Tax Court today: ustaxcourt.gov/UstcInOp/Opini….

Here are all of the issues you get introduced to in 30 pages:
1. The concept of nonrecourse debt versus recourse debt under Section 1001 (different rules than Section 752 for partnerships) (1/X) 2. Nonrecourse debt means that if you fail to repay the lender, the only option the lender has is to seize the property and keep it or sell it at auction. The lender can't come after you personally. (2/X)

1. When I teach tax reform, I always say there are no lies; just versions of the truth. For example, when GOP leaders repeatedly claim that this a middle class tax cut -- even though there is no evidence to support it after 10 yrs -- it's not because they're lying... 2. ...but rather because they simply believe that workers will benefit more from the 900B tax cut than those who "score" the tax plans do. But...