Article Update: As of June 5, 2020, the president signed the Paycheck Protection Program Flexibility Act into law. On June 4, 2020, the U.S. Senate passed the House version of a bill designed at...
On Friday, May 22, 2020, the Small Business Administration issued a pair of documents containing much-needed guidance for borrowers and lenders participating in the SBA’s Paycheck Protection Program...
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...
Generally, individuals are required by law to take an annual withdrawal from their IRA, Simple IRA, SEP IRA, or other retirement plan vehicles such as a 401K plan once they reach age 72 (or 70 1/2...
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
While a lot of recent attention focused on the stimulus package contained in the Coronavirus Aid, Relief & Economic Security (CARES) Act signed into law late last week, remember that a significant...