The IRS has issued new guidance addressing a question that has lingered since the launch of the Paycheck Protection Program (PPP) — whether expenses paid for with forgiven, tax-free PPP loan proceeds are deductible business expenses under Section 162 of…
The Internal Revenue Service urges taxpayers to use the Get My Payment tool to provide direct deposit information to receive their Economic Impact Payment by noon on Wednesday, May 13. If your 2019 tax return has been e-filed and included…
The $2.2 trillion Coronavirus Aid, Relief, and Economic Security (CARES) Act delivers good news to individuals and businesses, including valuable tax-relief measures. Some of that tax relief is retroactive. These provisions can affect 2018 and 2019 returns that have already been…
With much of the country currently on lockdown due to the novel coronavirus (COVID-19) crisis, many nonessential businesses have been shuttered. As a result, millions of small business owners find themselves on the brink of financial disaster. For those with business…
Zoom, WebEx and other video conferencing services are certainly helpful during the COVID-19 pandemic. And scammers are exploiting the tremendous growth of video conferencing services by launching phishing campaigns aimed at getting users to hand over login credentials. Another newer…
President Trump has signed the latest relief bill totaling $484 billion into law. The intent of the bill is to replenish two depleted small business-relief programs, offer additional assistance to hospitals and fund an expansion of testing capacity nationwide. The…
Millions of eligible Americans have already received their Economic Impact Payments (EIPs) via direct deposit or paper checks, according to the IRS. Others are still waiting. The payments are part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act.…
With many businesses transitioning their employees to working remotely, it’s more important than ever to ensure your organization has the proper security measures in place and that you train your employees on recognizing security threats. Here are some tips to…
You aren’t alone. Many questions still exist surrounding the regulations and required calculations of the Families First Coronavirus Response Act (FFCRA) which was signed into law by President Trump on March 18, 2020. The IRS recently released a lengthy FAQ…
The $349 billion in funding available in the initial Paycheck Protection Program was exhausted after just 14 days. So what's next? If you submitted your application but haven't received approval or have yet to submit, we advise you to: Continue…