UPDATE: The SBA has extended the grace period to May 14, 2020. All other aspects remain unchanged. The Paycheck Protection Program (PPP) is one of the most influential aspects of the CARES Act...
This article was co-authored by Collin Kanelakos, Partner, Assurance Services. So, you’ve submitted your SBA Paycheck Protection Program (PPP) application and you might have even received your loan...
To help individuals stay afloat during this time of economic uncertainty, the government will send up to $1,200 payments to eligible taxpayers and $2,400 for married couples filing joints returns. An...
Employee retention credit for employers Eligible employers can qualify for a refundable credit against, generally, the employer’s 6.2% portion of the Social Security (OASDI) payroll tax (or against...
The Coronavirus Aid, Relief, and Economic Security (CARES) Act contains immediate payroll tax relief to certain employers. The employee retention credit cannot be utilized by an employer who receives...
In response to the coronavirus pandemic and following the lead of the IRS, Glenn Hegar, Comptroller for the State of Texas, announced that state franchise tax filings that are ordinarily due on May 15
On Friday, March 27th, the Coronavirus Aid, Relief, and Economic Security (CARES) Act (the Act) passed the U.S. House of Representatives and was signed into law by the president. The CARES Act is...
On Wednesday, March 18, 2020, the U.S. Senate passed H.R. 6201, Families First Coronavirus Response Act, which was signed shortly thereafter by the president. Now that the bill is signed into law,...
As the end of the year approaches, it is a good time to think of planning moves that will help lower your tax bill for this year and possibly the next.
Signed into law this past December, the Tax Cuts and Jobs Act (TCJA) is the most sweeping federal tax legislation since 1986. It includes significant changes for individual taxpayers, many of which...