CARES Act made changes to excess business losses
As a follow up to an article we posted earlier in the spring, the CARES Act made changes to excess business losses. This includes some changes that are retroactive and […]
Category: Federal
IRS takes steps to ensure people with qualifying children receive $500 Economic Impact Payments
The IRS announced it will reopen the registration period for federal beneficiaries who didn’t receive $500 per child Economic Impact Payments earlier this year. The IRS urges certain federal benefit […]
Executive Order to Defer Employee’s Portion of Social Security Taxes
On August 8, President Trump signed four executive actions, including a Presidential Memorandum to defer the employee’s portion of Social Security taxes for some people. These actions were taken in an […]
PPP Loan Forgiveness Updates
The U.S. Small Business Administration (SBA) and the US Treasury answered additional questions this week, related to forgiveness of Paycheck Protection Program (PPP) loans and Economic Injury Disaster Loans (EIDL). […]
The possible tax consequences of a PPP loan
If your business was fortunate enough to get a Paycheck Protection Program (PPP) loan taken out in connection with the COVID-19 crisis, you should be aware of the potential tax […]
HHS Extends Application Deadline for Medicaid Providers and Plans to Reopen Portal to Certain Medicare Providers
On July 31, 2020, the Department of Health and Human Services (HHS) announced an extension of the application deadline for Phase 2 general distribution to Medicaid, Children’s Health Insurance Program […]
Where’s my tax refund?
With the July 15 tax deadline now past, the Internal Revenue Service reminds all taxpayers that there is no secret way to find out when your tax refund will be […]
How fraud perpetrators are stealing unemployment benefits
When Congress authorized an additional $600 in monthly unemployment benefits as part of the CARES Act, out-of-work Americans weren’t the only ones it helped. Criminals have descended like locusts on […]
PPP Loan Forgiveness Update
Take Your Time Although Paycheck Protection Program (PPP) Loan forgiveness is a hot topic on the minds of borrowers and the CPAs who advise them, experts are saying borrowers should […]
Provider Relief Fund Updates: Reporting, new $5B to SNFs and more
This week’s Provider Relief Fund updates include: Provider Relief Fund First Reporting Deadline February 15, 2021 New $5 billion for Nursing Facilities that Participate in COVID-19 Training Provider Relief Fund […]
New Loan Programs Created for Nonprofits
On July 17, 2020, the Federal Reserve (Fed) finalized details for two new Main Street loan programs created for not-for-profits (NFP): Nonprofit Organization New Loan Facility and Nonprofit […]
The CARES Act – Federal Program Requirement Challenges
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was passed and signed into law on March 27th, 2020 in response to the impact of the COVID-19 pandemic. The […]
