Coronavirus Resource Hub

Relief for New York Small Businesses and Nonprofits with New York Forward Loan Fund

May 29, 2020
New York Forward Loan Fund

New York Forward Loan Fund is a new economic recovery loan program aimed at supporting New York State small businesses, nonprofits and small landlords as…

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Paycheck Protection Program Loan Forgiveness Guidance Released

May 28, 2020
ppp loan

The US Small Business Association (SBA) and Treasury Department released new guidance on Paycheck Protection Program (PPP) loan forgiveness procedures for the application that was…

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IRS Updates FAQs on Economic Impact Payments

May 22, 2020
stimulus check

The IRS has added new FAQs about the “Get My Payment” tool on its website. The online tool provides information about the status of an…

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Do You Have Questions About Your Stimulus Check? The IRS Adds Phone Operators to Help

May 20, 2020
stimulus checks

The IRS is adding 3,500 phone representatives to answer questions from taxpayers about their stimulus checks. The phone number is listed in the letter that…

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Answers to Common COVID-19 Related Tax Questions

May 19, 2020
covid-19

The Coronavirus (COVID-19) pandemic has impacted many individuals’ finances across the country. Here are some answers to common tax questions you may have right now.…

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Paycheck Protection Program Loan Forgiveness Application Released

May 18, 2020
tax planning accountant

The US Small Business Association released a form for the Paycheck Protection Program (PPP) loan forgiveness. The new form includes instructions on how small businesses…

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How the CARES Act Impacts Business Charitable Deductions

May 15, 2020
nonprofit auditor

Many businesses are still interested in donating to charity during the Coronavirus pandemic. In order to incentivize charitable giving, the Coronavirus Aid, Relief and Economic…

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Paycheck Protection Program: Safe Harbor for Good-Faith Certification

May 14, 2020
PPP loan

Small businesses that receive Paycheck Protection Program (PPP) loans of less than $2 million are considered to meet the required good-faith certification. According to newly…

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Employers Receive More Flexibility on Cafeteria Plans

May 13, 2020
health plan audit cpa

The IRS released guidance on temporary changes to section 125 cafeteria plans, which extend the claims period for health flexible spending arrangements (FSAs) and dependent…

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How the CARES Act Affects Net Operating Losses

May 12, 2020
tax cpa

The Coronavirus Aid, Relief, and Economic Security (CARES) Act includes provisions impacting net operating losses. Here’s how the rules for claiming certain tax losses have…

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