A roundup of considerations for companies while preparing income tax provisions for the year-ended Dec. 31, 2020.
Treasury Department and SBA announce reopening dates for Paycheck Protection Program - Jan. 11, 2021 and Jan. 13, 2021.
SBA releases two PPP reopening guidance packages. The first for new borrowers and the second for the second draw program.
SBA releases two PPP reopening guidance packages. The first for new borrowers and the second for the second-draw program.
Year-end stimulus legislation extends Paycheck Protection Program and expands eligibility for exempt organizations.
The Act does not lengthen CARES Act COVID plan relief, but offers relief for non-COVID disasters, partial terminations and pension plans.
Last minute negotiations pave way for Congress to pass second major COVID-19 stimulus package with tax law changes and tax extenders.
After negotiations go to the 11th hour, Congress passes tax fix for PPP, changes to loan forgiveness and establishes second-draw program.
Last push for stimulus funding before year-end provides PPP deductibility obviating need to plan around nondeductibility of PPP expenses.
The IRS has developed new guidance for processing interest bearing fuel claims, including one-time claims for alternative fuel credits.
The COVID-19 pandemic has increased the risk of noncompliance in an evolving sales and use tax compliance landscape.
Borrowers (and affiliates) that have PPP Loans of $2 million or greater should be prepared to provide additional information to SBA.
Tax planning opportunities for consideration in light of COVID-19, the resulting economic crisis, and evolving tax laws and regulations.
SBA procedural guidance provides answers on how to navigate PPP loan changes in ownership; deals can now move forward with certainty.
The U.S. Small Business Administration (SBA) and Treasury issued an interim final rule Monday addressing Paycheck Protection Program (PPP) forgiveness issues related to owner-employee compensation and the eligibility of nonpayroll costs.
Recently the American Institute of Certified Public Accountants (AICPA) released guidance on accounting and financial reporting for the forgiveness of Paycheck Protection Program (PPP) loans acquired through the Small Business Administration (SBA) as part of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act).