Tag: paycheck protection program

Paycheck Protection Program
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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PPP and State Tax Implications
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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Employee Retention Credit Expansion
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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COVID Relief Bill
Congress Passes COVID Relief Bill, Includes PPP Update, ERC Extension & More

Congress passed the Consolidated Appropriations Act of 2021, which includes an extension & expansion of…

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New PPP Funding Coming + Tax Deductibility
PPP2 Bill Passes, Will Allow Tax Deductibility of Loan Expenses

Congress passed a COVID relief bill that includes an extension of the PPP program and…

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Income Tax Accounting for Year-End
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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PPP Tax Deductibility
IRS Clarifies Tax Deductibility of PPP Expenses

The IRS and Treasury issued an update clarifying the tax deductibility of expenses related to…

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PPP Updated FAQs for Acquired Borrowers
Updated FAQs on Employee Retention Credits for Acquisitions of PPP Borrowers

The IRS posted two new FAQs on the Employee Retention Credit as it relates to…

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PPP Loan Forgiveness May Impact R&D Credit
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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PPP Loan Necessity Questionnaire
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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