Tag: paycheck protection program

California PPP loan
California: Update to Paycheck Protection Program Loan Conformity

Assembly Bill 80 (AB 80) allows qualifying taxpayers to exclude from California gross income Paycheck…

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IRS PPP
IRS Provides Safe Harbor for PPP Loan Deductions

The safe harbor applies to PPP borrowers who received first-round loans but were not able…

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Procedures for Change of Ownership for PPP Borrowers
With PPP Extension, Borrowers Should Revisit Guidelines for Ownership Changes

The SBA issued a Procedural Notice to address required procedures for changes of ownership related…

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ppp_loan_extension
Deadline Extended for PPP Loan Applications

The U.S. Senate passed legislation that provides a 60-day extension for eligible employers to apply…

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COVID Relief Package
Comprehensive COVID-19 Relief Package Enacted

The latest COVID-19 relief package provides relief to individuals and small businesses, including updates to…

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ERC_FAQS
Employee Retention Credit FAQs Released for 2020 Claims

IRS issued new FAQs describing retroactive changes to the ERC under the new law for…

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R&D Tax Credit and Employee Retention Credit
Interplay of PPP and ERC with the R&D Tax Credit

The CAA addresses the interplay for businesses that intend to claim both the ERC and…

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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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