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Priorities for Reopening Main Street

The Commerce Department last week revised its 2nd Quarter GDP estimates showing the economy shrunk by nearly one-third.  In a $22 trillion economy, that translates into nearly $2 trillion in lost wages, profits, retirement savings, etc.

The threat of this precipitous decline was the catalyst for the business community letter dated back on March 18th.  As Governors closed businesses and schools to slow the spread of COVID-19, one hundred and twenty national trade groups called on Congress to provide relief to families and employers that was on the same scale as the

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Priorities for Reopening Main Street2020-08-31T20:58:58+00:00

Talking Taxes In a Truck Episode 6 – Doug Badger on the Coronavirus, Health Savings Accounts, Florida, and the Phillies

Doug Badger, former Deputy Assistant to the President and misguided Phillies fan, talks COVID-19, what needs to happen for the economy to reopen, and the prospects for baseball to return in our latest “Talking Taxes in a Truck” podcast.  Recorded on June 26, 2020 — 23 minutes.

You can access the podcast on Libsyn by clicking here.

Talking Taxes In a Truck Episode 6 – Doug Badger on the Coronavirus, Health Savings Accounts, Florida, and the Phillies2020-06-27T19:45:36+00:00

NOL-Loss Limitation Relief Support Building

Advocates defending the CARES Act NOL-Loss Limitation relief had a busy week.  First, more than 75 national and local trade groups signed a letter in favor of keeping the relief intact.  The broad number of signatories on the letter, drafted by our friends at the National Mining Association, makes clear arguments that the provision was “snuck” into the CARES Act or would only benefit a “narrow” sliver of industries are wholly meritless.  As the letter states:

The ability to carryback NOLs is a critical component of a well-operating income tax system. Indeed, NOL carryback provisions have long been

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NOL-Loss Limitation Relief Support Building2020-06-23T15:09:26+00:00

The truth about business tax relief in the CARES Act

S-Corp has a defense of the CARES Act NOL/Loss Limitation rules in today’s Washington Examiner.   The piece begins:

For weeks, we’ve heard that the net operating loss and loss limitation relief included in the CARES Act is a “massive” tax break for “hedge funds” that was “snuck” into the bill at the last moment. Those of us who advocated for this provision know none of this is true. Here are the key facts readers need to know.

First, the policy at issue is important, even though it may not seem exciting. It gives businesses suffering net operating

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The truth about business tax relief in the CARES Act2020-06-04T15:46:13+00:00

Talking Taxes In a Truck Episode 5 – David Winston on Where the Coronavirus is Taking Us

David Winston, President of the Winston Group, a super smart strategic policy and research firm based in Washington DC, says there are three phases to the COVID-19 response.  Which one are we in now?  Find out by listening to our latest “Talking Taxes in a Truck” podcast.  We cover the effects of the coronavirus shutdown on businesses and consumers and where things are headed.  Will it be new normal or business as usual?  Recorded on May 28, 2020 — 22 minutes.

You can access

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Talking Taxes In a Truck Episode 5 – David Winston on Where the Coronavirus is Taking Us2020-05-29T15:21:29+00:00