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A Comprehensive Guide to the American Rescue Plan of 2021

March 15, 2021

President Joe Biden signed into law the American Rescue Plan of 2021, a $1.9 trillion COVID-19 relief package, on March 11. There are several tax…

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What Small Businesses Need to Know About Revamped Paycheck Protection Program

February 24, 2021
ppp loan

Starting Wednesday, February 24, new applications for the Paycheck Protection Program (PPP) will be accepted for the following 14 days solely for small businesses. Businesses…

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Employers Have Flexibility for Health FSAs and Dependent Care Assistance Programs

February 22, 2021
covid-19 relief

Employers have greater flexibility for employee benefit plans offering health flexible spending arrangements (FSAs) or dependent care assistance programs. Under the Taxpayer Certainty and Disaster…

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Didn’t Receive Your Full Economic Impact Payment? You May Be Eligible to Claim the Recovery Rebate Credit

February 17, 2021
stimulus check

The IRS has issued all first and second round of Economic Impact Payments¬†to eligible taxpayers. While some second round Economic Impact Payments may still be…

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Deduction Limit Increases for Corporate Disaster Relief Contributions

February 8, 2021
tax cpa

Corporations may qualify for the new 100% limit for disaster relief contributions. The IRS is also offering a temporary waiver of the recordkeeping requirement for…

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Updated FAQs on COVID-19 Related Tax Credits

February 2, 2021
tax faqs

The IRS released updated frequently asked questions on COVID-19 related tax credits and the second economic impact payment (EIP). The updates to the FAQs cover…

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

January 20, 2021
nols carryback

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…

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Paycheck Protection Program: Guidance on Loan Forgiveness

January 20, 2021
PPP loan forgiveness

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…

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Paycheck Protection Program Opens to All Lenders

January 19, 2021
ppp loan forgiveness

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…

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Paycheck Protection Program Opens January 11

January 11, 2021
ppp loan

The second round of Paycheck Protection Program (PPP) loans opens January 11. Initially only community financial institutions that serve minority- and women-owned businesses to make…

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