Posts by Greg Famiglietti

PPP Simplified Application for Small Borrowers
New Simplified Loan Forgiveness Application for Smallest PPP Borrowers

PPP borrowers with loans under $50,000 are now exempt from certain reductions in forgiveness and…

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Tax Concerns for PPP Borrowers
Tax Concerns Loom for PPP Borrowers Going into Year-End

Tax concerns loom for PPP borrowers; current guidance indicates expenses related to any loan forgiveness…

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PPP Changes from SBA
SBA Changes PPP Forgiveness Rules for 5% Owner-Employees of Corporations & for Certain Nonpayroll Costs

The SBA issued an Interim Final Rule that sets a de minimis rule for Paycheck Protection…

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Payroll Tax Deferral FAQs
IRS Adds New FAQs on CARES Act Payroll Tax Deferrals

The IRS recently added numerous frequently asked questions (FAQs) on the payroll tax deferrals under the Coronavirus…

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Employee Retention Credit FAQ
FAQ Updates for Employee Retention Credit & Payroll Tax Deferrals

The IRS recently updated its frequently asked questions (FAQs) on the Employee Retention Credit (ERC)…

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PPP Borrowers: Five Steps
Five Things PPP Borrowers Need to Do Now

Borrowers of PPP loans should consider taking the following steps to maximize the amount and…

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Simplified Paycheck Protection Loan Forgiveness
Paycheck Protection Program Loan Forgiveness Simplified

Many small and midsize businesses with Paycheck Protection Program (PPP) loans under the CARES Act…

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Signing Document
Changes Coming to PPP Loan Periods & Forgiveness

A new PPP bill is expected to pass that will extend covered periods and forgiveness…

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PPP Loan Considerations
PPP Loan Considerations and Accounting-Related Issues

Unforeseen consequences may result should companies fail to ensure eligibility under PPP, properly calculate eligible…

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CARES Act Deductions for PPP Expenditures
IRS Clarifies Tax Deduction Eligibility for PPP Expenditures

IRS issued guidance regarding the deductibility for federal income tax purposes of certain otherwise deductible…

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