Tag: paycheck protection program
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 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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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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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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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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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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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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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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