We have updated two of our white papers to reflect an update in the SBA’s PPP loan FAQ for borrowers and lenders.
Rev. Proc. 2021-33 allows exclusion of PPP, restaurant revitalization and shuttered venue operator grants from ERTC gross receipts test.
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.
SBA announces opening date for Restaurant Revitalization Fund – Registration on April 30 at 9 am EDT; applications on May 3 at 12 pm EDT.
The Relief Act made changes on how the Employee Retention Tax Credit works during the first two quarters of 2021.
This Alert describes and explains the postponement of certain federal tax filing and payment deadlines in IRS Notice 2021-21.
PPP extension clears Senate. Program to be extended to May 31, with 30 days provided after May 31 for SBA to process pending applications.
Managing significant tax changes will ensure individuals and businesses are positioned for success for the remainder of 2021 and beyond.
American Rescue Plan Act of 2021 creates $28.6 billion grant program for restaurants and other food or beverage service companies.
$1.9 trillion COVID-19 relief plan with broad individual relief and new coronavirus-related funding enacted into law.
Biden-Harris administration announces changes to PPP including a 14-day exclusive access period for businesses with fewer than 20 employees.
Plan sponsor actions to incorporate the provisions of the SECURE and CARES Acts into their plan documents and plan administration.
States may not allow the gross income tax exclusion provided by the federal program, resulting in taxable discharge of indebtedness income.
The Employee Retention Tax Credit was significantly expanded by the federal relief and stimulus package finalized Dec. 27, 2020.
Our coronavirus white paper has been updated for financial reporting matters related to the Consolidated Appropriations Act, 2021.