The CARES Act was enacted in an attempt to mitigate the economic effects of the COVID-19 pandemic. Among other things, it extends favorable tax treatment to qualified individuals who take...
IRS guidance provides RMD rollover relief
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PPP and EIDL Programs Extended
The Paycheck Protection Program application deadline has officially been extended to August 8th. Under the program, the SBA had approved almost 4.9 million loans, totaling $520.6 billion....
PPP Updates and Loan Forgiveness Calculator
New PPP rules, applications and guidance are almost a daily occurrence and last week was no exception. The June 22 Interim Final Rule officially updates the language of the Final Rules to...
New Borrower-Friendly PPP Loan Forgiveness Applications and Guidance
The U.S. Small Business Administration (SBA) released a revised Paycheck Protection Program (PPP) loan forgiveness application and instructions and also unveiled a new EZ application for...
Good News for PPP Borrowers – The Paycheck Protection Flexibility Act
UPDATED: In response to the Paycheck Protection Flexibility Act, the Small Business Administration amended its rules governing the Paycheck Protection Program (PPP) to allow small...
Be alert to tax fraud
Fraudsters are on attack, using malicious email, text message and telephone scams designed to steal tax refunds and government stimulus checks being distributed to eligible individuals....
Still waiting for your stimulus check?
The delay in receiving your stimulus check could be the result of anything from the IRS scheduling the payment for later in 2020 to the agency needing additional information before it can...
PPP Loan Forgiveness Just Became Easier
Late June 3, 2020, U.S. Senate passed the House version of Paycheck Protection Flexibility Act (PPFA), which makes significant changes to loan forgiveness rules. Among the key provisions...
Adjusting your financial statements for COVID-19 tax relief measures
The Coronavirus Aid, Relief, and Economic Security (CARES) Act, signed into law on March 27, 2020, contains several tax-related provisions for businesses hit by the novel coronavirus...