Tag: CARES Act
PPP Round 2: Key Details & Loan Eligibility Requirements
New PPP funding is available for businesses impacted by COVID-19. Here is a summary of…
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IRS Rules on Federal PPP Expense Deductions; State Tax Questions Remain
The IRS issued a ruling allowing federal tax deductions for PPP expenses, but questions remain…
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New Stimulus Bill Package Extends and Expands Employee Retention Credit
The Consolidated Appropriations Act of 2021 (Act), signed into law on December 27, 2020, contains significant enhancements…
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Income Tax Accounting: Hot Topics for Year-End 2020
There are a number of income tax accounting considerations related to the CARES ACT provisions,…
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For Payroll Taxes, Compensation & Benefits, Year-End is Not the Same in 2020
As 2020 draws to a close, you may find that this year is not be…
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Year-End: Common Fringe Benefits, Rules for 2% S Corp Shareholders & CARES Act Changes
The CARES Act made a number of changes to the rules relating to traditional fringe…
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PPP Loan Forgiveness May Reduce R&D Credit
PPP loan recipients should be aware that forgiveness of the loan may cause 2020 qualified…
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SBA Sending ‘Loan Necessity’ Questionnaires to PPP Borrowers
PPP borrowers should be on the lookout for a ‘loan necessity’ questionnaire from their lenders,…
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2020 Year-End Tax Planning for Businesses: Tax Strategies for Resilience
Explore the tax relief tactics that can take your business from reacting to the day-to-day…
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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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