Phase 2 of the Paycheck Protection Program: Forgiveness

Phase 2 of the Paycheck Protection Program: Forgiveness

The Paycheck Protection Program begins phase 2: forgiveness! On Friday evening, May 15, the SBA released the PPP Forgiveness Application, with a notable absence of guidance from the treasury. The form and instructions offer borrowers details on how to apply for...
Paycheck Protection Program: What you need to know

Paycheck Protection Program: What you need to know

The Paycheck Protection Program is specifically designed to help small businesses keep their workforce employed. UPDATES: Additional updates and provisions were released earlier today 4/3 regarding the Payroll Protection Program, including a finalized application and...
Updated IRS tax guidelines business owners need to know

Updated IRS tax guidelines business owners need to know

We communicated earlier this week initial updated tax guidelines from the IRS regarding emergency relief for individuals and small business owners. Well, the IRS has released updated guidance on tax deadlines which supersedes previous guidance: The deadline for making...

Do you know how COVID-19 affects your taxes 100%?

Last week, President Trump signed the Families First Coronavirus Response Act. Congress is also working on an even newer Coronavirus relief bill. Federal income-tax payments can be deferred to July 15th.   What is already determined? 1.Taxpayers do NOT have to...