Effective January 12, 2021, the Small Business Administration and the Department of the Treasury issued an Interim Final Rule concerning the Paycheck Protection Program (“PPP”). The rule applies to the second round of PPP loans under the Economic Aid to …
Cooperative Posts
IRS Issues Sec. 199A Guidance for W-2 Limitation
As part of the 2017 tax reform bill, Congress passed new Section 199A, which authorizes a deduction for “specified agricultural or horticultural cooperatives.” As discussed in a subsequent post, Congress enacted Section 199A(g) to limit the 199A deduction …
New IRS Ruling: The Timing of Patronage Business for Allocations
In a new ruling, the Service considered the period of historical patronage business that should be used to calculate the gain on a liquidation sale.
Coop was a cooperative within the meaning of Subchapter T. It struggled in …