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IRS makes statements on CARES Act Employee Retention Tax Credit risks

IRS makes statements on CARES Act Employee Retention Tax Credit risks

On Oct. 19, 2022 the IRS issued a news release warning employers to be wary of third parties who have ramped up campaigns to try and get employers to claim the CARES Act Employee Retention Tax Credit (ERTC) when they may not actually qualify.
Paid leave for employees impacted by COVID-19 in 2021

Paid leave for employees impacted by COVID-19 in 2021

Some employers can give paid leave to employees impacted by COVID in 2021 and claim a payroll tax credit per the American Rescue Plan Act.
Senate passes extension of Paycheck Protection Program to May 31

Senate passes extension of Paycheck Protection Program to May 31

PPP extension clears Senate. Program to be extended to May 31, with 30 days provided after May 31 for SBA to process pending applications.
Expanded PPP Guidance and Upcoming Deadlines

Expanded PPP Guidance and Upcoming Deadlines

On February 22, 2021 the SBA announced important changes to the Paycheck Protection Program. In this video, we will briefly cover first and second draw loans, recent guidance that expands loan eligibility, and approaching deadlines that you need to know.
Guidance issued for employers claiming the Employee Retention Credit

Guidance issued for employers claiming the Employee Retention Credit

Notice 2021-20 clarifies retroactive changes made to ERTC and PPP interaction and incorporates several previous frequently asked questions.
Exclusive access period coming to PPP; other changes forthcoming

Exclusive access period coming to PPP; other changes forthcoming

Biden-Harris administration announces changes to PPP including a 14-day exclusive access period for businesses with fewer than 20 employees.
CAA 2021 Changes to Paid Sick Leave and FSAs

CAA 2021 Changes to Paid Sick Leave and FSAs

The Consolidated Appropriations Act, 2021 was signed into law late last year, and in this video, we will discuss how the Act affected paid sick and family leave as well as flexible spending accounts.
Expansion of the Employee Retention Tax Credit

Expansion of the Employee Retention Tax Credit

The Consolidated Appropriations Act, 2021 made significant changes to the Employee Retention Tax Credit by extending relief to a greater number of employers and increasing the overall tax benefit. In this video, we will provide an overview of the changes and how they apply for the 2020 and 2021 tax years.
Biden outlines next round of fiscal aid

Biden outlines next round of fiscal aid

The ambitious plan addresses the public health crisis, pandemic economy damage and the rollout of a national vaccination program.
What plan sponsors need to do now for the SECURE and CARES Acts

What plan sponsors need to do now for the SECURE and CARES Acts

Plan sponsor actions to incorporate the provisions of the SECURE and CARES Acts into their plan documents and plan administration.
PPP forgiveness and expenses: State tax implications

PPP forgiveness and expenses: State tax implications

States may not allow the gross income tax exclusion provided by the federal program, resulting in taxable discharge of indebtedness income.
Ongoing updates to Coronavirus: Financial reporting considerations

Ongoing updates to Coronavirus: Financial reporting considerations

Our coronavirus white paper has been updated for financial reporting matters related to the Consolidated Appropriations Act, 2021.
Employee retention tax credit significantly expanded for 2021

Employee retention tax credit significantly expanded for 2021

The Employee Retention Tax Credit was significantly expanded by the federal relief and stimulus package finalized Dec. 27, 2020.
PPP reopening for first draw borrowers Jan. 11; second draw Jan. 13

PPP reopening for first draw borrowers Jan. 11; second draw Jan. 13

Treasury Department and SBA announce reopening dates for Paycheck Protection Program - Jan. 11, 2021 and Jan. 13, 2021.
SBA releases guidance on PPP second draw loans

SBA releases guidance on PPP second draw loans

SBA releases two PPP reopening guidance packages. The first for new borrowers and the second for the second draw program.
SBA releases guidance on PPP continued access program

SBA releases guidance on PPP continued access program

SBA releases two PPP reopening guidance packages. The first for new borrowers and the second for the second-draw program.