Tag: 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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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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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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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: 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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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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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 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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