The $1.2 trillion Infrastructure Investment and Jobs Act signed into law by President Biden contains a provision effectively ending the Employee Retention Credit, also known as the Employee Retention Tax …
New SBA Guidance Clears the Way for a Simpler PPP Loan Forgiveness Process
On August 11, when we last wrote about the Personal Paycheck Flexibility Act, the window for PPP loan forgiveness applications had just started to open. But, as we indicated at the …
Deferred Payroll Tax: What You Should Know
With no movement on negotiations for a second COVID-19 relief bill from lawmakers on Capitol Hill, President Trump signed an executive order and several memorandums addressing the expiration of the …
As the PPP Forgiveness Window Opens Businesses Should Wait-and-See
The week of August 12 marked the first week that the Small Business Administration would be accepting applications for PPP loan forgiveness. But businesses are being advised not to jump …
Republican Senators Propose Version of New CARES Act
After a couple of weeks of intra-party squabbling, Senate Republicans released the details of it proposed coronavirus aid sequel. It now faces a stonewall of Democrats who passed their own …
IRS Says No Double Tax Benefit for PPP Loan Recipients
If you thought your business was going to deduct all those expenses you were planning to pay with a loan from the Paycheck Protection Program (PPP), you need to be …
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