Identity Protection PIN Opt-In

Identity Protection PIN Opt-In Program Is Open to All Taxpayers

January 26, 2021

The Identity Protection PIN Opt-In Program is now open to all taxpayers who can verify their identity. The six-digit number assigned to the taxpayer helps prevent the filing of fraudulent federal tax returns. Highlights of the Identity Protection PIN Opt-In Program It is a voluntary program. Taxpayers must pass a rigorous identity verification process. Spouses…

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nols carryback

What Employers Need to Know About the Extended Employee Retention Tax Credit

January 20, 2021

Employers that keep workers on their payrolls are eligible for a refundable Employee Retention Tax Credit (ERTC), which was extended and enhanced in the latest law. Background on the Employee Retention Tax Credit The ERTC was created by the CARES Act, which was enacted in March 2020. The credit: Equaled 50% of qualified employee wages…

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PPP loan forgiveness

Paycheck Protection Program: Guidance on Loan Forgiveness

January 20, 2021

Updated Paycheck Protection Program (PPP) loan forgiveness guidance and forms were released by the US Small Business Administration (SBA) and Treasury. The PPP Loan Forgiveness Application Form 3508S is a one-page form for borrowers that received a PPP loan of $150,000 or less. The borrower doesn’t need to submit supporting documents, but would need to provide…

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ppp loan forgiveness

Paycheck Protection Program Opens to All Lenders

January 19, 2021

Starting today, January 19th, the Paycheck Protection Program (PPP) re-opens to all PPP-eligible lenders. Applications for first and second draw loans can be submitted to the US Small Business Administration (SBA). The SBA granted dedicated PPP access to Community Financial Institutions (CFIs) on January 11th and then access to small lenders on January 15th. The smaller…

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In Honor of MLK, Buchbinder Announces Support for the Brooklyn COVID-19 Response Fund

January 18, 2021

In honor of Dr. Martin Luther King, Jr.’s life and legacy, we are very pleased to announce that Buchbinder Tunick & Company LLP is making a donation to the Brooklyn COVID-19 Response Fund, a grant project of the Brooklyn Community Foundation.  We are proud to support this excellent program in their efforts to address the disproportionate…

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tax deadline

Tax Calendar: Key Deadlines for Businesses and Other Employers in Q1 2021

January 13, 2021

Here are some of the key tax-related deadlines affecting businesses and other employers during the first quarter of 2021. Keep in mind that this tax calendar isn’t all-inclusive, so there may be additional deadlines that apply to you. January 15 Pay the final installment of 2020 estimated tax. Farmers and fishermen: Pay estimated tax for…

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