Bad Debts: What Losses Can You Deduct and When?
Attempts to claim write-offs for bad debt losses have fueled controversies with the IRS for many years. Unfortunately, bad debt losses are increasingly common during the COVID-19 pandemic. Here’s an overview of the federal income tax treatment of these losses. The… Read more »
Read Full Newsletter »Accrual-basis business taxpayers, Business bad debt losses, Cash-basis business taxpayers, Extended Statute of Limitations, Non-business bad debt losses