Chris

[Chris @themigs]

@TheDrainmaker This isn’t new, it was in their book. The other interesting there was that the Bucks and Kenny were negotiating together and Cody was negotiating separately.

[Chris @themigs]

@danchodan Of the potential clients who I generally told did not qualify, nursing homes would argue with me the longest, because they “felt” the impacts, even if they generally weren’t quantifiable.

[Chris @themigs]

@danchodan I agree - that’s why I think you’d need a sympathetic court. Nursing homes are one of those industries where government orders were clearly “impactful” but not in a way that lends itself to the IRS test.

[Chris @themigs]

@danchodan Otherwise you’re into a very subjective argument that would ultimately require a court finding that the 10% threshold in the guidance isn’t literal.

[Chris @themigs]

@danchodan Have talked with a lot of nursing homes as well and it’s very difficult. I think to be comfortable with IRS guidelines you need to have reduced residents (10% plus), and show that you were turning people away (i.e. that this was your “capacity” based on various restrictions).

[Chris @themigs]

@The7Line Will these also be available at the stadium on Wednesday? Looking like a hoodie might be helpful…

[Chris @themigs]

@NateSilver538 Your company's model currently shows a 50/50 odds Biden wins.

[Chris @themigs]

@danchodan All I'm saying is that in some industries there was not the ability to easily quantify what % of services couldn't be provided based on government orders. Agreed that some businesses were certainly misled on the strength of their positions.

[Chris @themigs]

@TheKron613 @danchodan @1momofcb This is one of the spots where the IRS clearly failed. The clarification of their guidance in summer '23 (nothing new to anyone who'd read it) could have been provided a year earlier and at least made it easier to show the mills were wrong.

[Chris @themigs]

@danchodan They might turn ERC buyout companies into the new cottage industry, though. The waits for some companies are staggering.

[Chris @themigs]

@danchodan Doesn’t this leave an odd hole? The voluntary disclosure program specifically says to amend a return if you believe you’re due less than you claimed. The language here seems to preclude that.

[Chris @themigs]

@danchodan I don’t know what immediate would win, but I keep coming back to the idea of just using April 15, 2024 as the deadline for all. Easy fix.

[Chris @themigs]

@danchodan The hours/receipts language in the Notice also specifically talks about which quarter to compare to, while the 10% test is less specific.

[Chris @themigs]

@danchodan That doesn’t have to be hours or receipts, although those are options. As you always point out, that’s a capacity question, and capacity is measured differently for different businesses.

[Chris @themigs]

@danchodan “The IRS issued updated guidance as of the September moratorium that states “if all your employees were able to telework during the pandemic and your business continued to operate, your business wasn’t suspended.” This is not updated guidance. This is in Notice 2021-20.

[Chris @themigs]

@TrevorDame This feels very WCW in a bad way.

[Chris @themigs]

@danchodan I agree, but would also like examples of what *does* qualify as a partial shutdown to help narrow that conversation.

[Chris @themigs]

@EffyCohen1 @danchodan The deadline for all 2020 quarters is April 15, 2024.