On June 30, 2021, the IRS retroactively extended the COVID-19 leave sharing program, which allows employers to donate employees’ unused PTO to charitable organizations. In exchange, employers can take charitable or business expense deductions.
The historic $2.2 Trillion CARES Act was signed into law late-afternoon on Friday, March 27. Just one week later, on Friday, April 3, banks began accepting Paycheck Protection Program (“PPP”) applications for businesses with employees.
On Thursday evening, April 30, 2020, the IRS released guidance advising taxpayers that expenses paid using Paycheck Protection Loan proceeds will not be tax-deductible.
On Tuesday, April 21, the Paycheck Protection Program and Health Care Enhancement Act was announced. This legislation is aimed at providing a new round of funding to small-business measures, which had appropriations lapse last week.
View recording and slides from our COVD-19 Series webinar, Navigating the Crisis: Essential Next Steps. In this presentation, our team provides the mission-critical next steps you must take to gain your footing in this uncertain environment.
Source: RSM US LLP. Notice 2020-23 automatically extends the timeline for investing in a Qualified Opportunity Fund (QOF) in light of the COVID-19 public health emergency.
The CARES Act contains several financial relief provisions to help construction contractors and other companies stay afloat during the coronavirus crisis.
The historic $2.2 Trillion CARES Act provides several business tax benefits, some of which can quickly provide cash flow.
As business owners struggle with the effects of the coronavirus epidemic, Congress is on the precipice of enacting landmark legislation aimed at keeping the economy afloat over the next several months.
The government’s response to COVID-19 has left many facing forced closure or seismic changes to sales and expense forecasts. This new reality has left business owners looking for ways to bolster working capital while reducing fixed and other costs
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