Wider Availability Announced for Small Business PPP Loans
On February 22, 2021, the Biden administration announced a new exclusive Paycheck Protection Program (PPP) loan application period for businesses and non-profits […]
Possible Pandemic Tax Surprises
The ongoing coronavirus pandemic has caused a lot of disruption in people’s lives. Some have lost jobs, others have started side jobs, […]
Updated PPP Loan Forgiveness Applications Released
The Small Business Administration (SBA), and the Treasury Department have published updated Paycheck Protection Program (PPP) loan forgiveness guidance and forms, including […]
Tax Filing Season to Begin February 12
The IRS has announced that it will begin accepting and processing 2020 tax returns on Friday, Febrary 12, 2021. This is later […]
New Round of Stimulus Payments Authorized
The Consolidated Appropriations Act, 2021, which was signed into law on December 27, 2020, directs the Department of the Treasury to deliver […]
New Law Permits Deduction of PPP Expenses
The Consolidated Appropriations Act, 2021, signed into law on December 27, 2020, specifies that business expenses paid with forgiven PPP loans are […]
New Round of PPP Loans Authorized by Congress
Part of the Consolidated Appropriations Act, 2021, signed into law on December 27, 2020, authorizes another round of Paycheck Protection Program (PPP) […]
New COVID-19 Relief Bill Signed Into Law
On December 27, President Trump signed into law the COVID-19 relief bill that was passed by Congress on December 21, 2020. The […]
IRS Confirms Expenses Paid with PPP Loans Not Deductible in 2020
In guidance issued in late November, the IRS confirmed that taxpayers that received a Paycheck Protection Program (PPP) loan and that paid […]
Tax Savings for Non-Itemizers
A common misconception in tax filing is that those who use the Standard Deduction instead of itemizing deductions have few additional benefits […]