to balance our efforts in community economic recovery
In mid 1994, the Tax Court and the Ninth Circuit reached opposite conclusions on whether loan financing fees relating to stock redemptions were deductible under Sec. 162(k). Since this area of the law is unsettled, taxpayers should look closely at the application of Sec. The sheer enormity of needs will thin the amount of resources that governments can apply to any single community. The result will be more businesses at risk of closure and fewer supports than typical economic disruptions.To balance our efforts in community economic recovery and resilience, following are three recommendations beyond business retention during COVID 19:Support and validate business closure: Rather than exhorting every business to succeed, create safe spaces for businesses to wind down and exit the market. This includes providing business technical assistance on selling assets, dissolving corporate structures, succession planning, etc. For every economic enterprise, it is only natural that when the bot