How the Payroll Tax Deferral Works for Employers
On August 8, 2020, President Trump issued a Presidential Memorandum allowing for the deferral of employee social security payroll tax obligations due to COVID-19.
Executive Order on Payroll Tax Deferral
On August 8, 2020, President Trump issued Memorandum on Deferring Payroll Tax Obligations in Light of the Ongoing COVID-19 Disaster.
$10,000 SALT Cap Continues to Receive Attention
One of the little-known provisions of the House of Representatives’ HEROES Act could have big impacts for high-income taxpayers and small businesses later on as tax policies continue to be reevaluated.
IRS Issues FAQs on Provider Relief Payments Made Under the CARES Act
The IRS explains the taxability of Provider Relief Fund reimbursements made to health care providers pursuant to the CARES Act. (authored by RSM US LLP)
FAQs About the Employee Retention Credit and Refundable Tax Credits
The Paycheck Protection Program helped more than four million businesses continue to pay their employees during the coronavirus pandemic.
Congress Approves Extension to Apply for PPP Funds
On Wednesday, July 1, the House passed Senate Bill S.4416 by unanimous consent. The bill, which extends the timeline to apply for PPP funds through August 8, 2020, is headed to the President’s desk for signature.
Deduct Some Losses Due to COVID-19 on Your 2019 Taxes
Over the past several weeks, there has been a lot of attention regarding the tax provisions and federal loan programs such as the Paycheck Protection Program included in the CARES Act.
New PPP Loan Forgiveness Applications Released
On Tuesday, June 16th, Treasury and the SBA released updated PPP loan forgiveness applications, including an alternative EZ application that is designed to simplify the process for those who meet certain criteria.
PPP Flexibility Act Payroll Guidance
The SBA recently released guidance on two major issues in the PPP Flexibility Act. The first addresses the PPP Flexibility Act's adoption of a 24-week covered period, in lieu of an 8-week covered period, regarding payroll.
NOL Changes Give Some an Immediate Source of Cash Flow
Within the multi-billion-dollar CARES Act legislation, there are numerous other provisions aimed at supporting different aspects of the economy, in addition to the well-known Paycheck Protection Program.