Tax & Accounting Blog
Tax & Accounting Blog
With only $66 billion remaining in the Payroll Protection Program (PPP) loan pool, the Small Business Association (SBA) and advocacy groups have warned that funds…
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President Joe Biden signed the Paycheck Protection Program (PPP) extension into law on March 30, extending federal aid for small businesses through May 31. The…
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The Biden administration on Monday, February 22 announced changes to the payroll protection program with the goal of helping small and minority owned firms as…
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2020 was a busy year for tax legislation, mainly driven by the ongoing COVID-19 crisis. Some provisions are going into effect immediately, and Tax Professionals will be tasked with answering tough questions from their taxpayer clients looking to understand the implications and benefits of the tax policies impacting their 2020 tax returns. View our video with Tax Policy experts from the Brownstein Hyatt Farer Schreck Law Firm on major areas of concern for the 2021 Tax Season.
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The SBA and Treasury announced that it will re-open the Paycheck Protection Program (PPP) loan portal to PPP-eligible lenders with $1 billion or less in…
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Late Friday evening, January 8, the SBA and the Treasury announced that the Paycheck Protection Program (PPP) will re-open the week of January 11 for…
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This week, the SBA and Treasury issued two interim final rules and a three-page document providing further guidance for the second round of PPP. The…
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Today, the Treasury and IRS issue formal guidance in Revenue Ruling 2021-02 https://www.irs.gov/pub/irs-drop/rr-21-02.pdf allowing tax deductions for eligible expenses tied to forgiven PPP loans, revoking last…
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I reported last week that the Covid-relief bill contained a provision that allowed business owners to deduct expenses paid for with PPP loans proceeds, which…
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More than 110,000 restaurants have closed permanently or long-term across the country as the industry grapples with the devastating impact of the Covid-19 pandemic. And…
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