Fresh IRS guidance is available for employers claiming the Employee Retention Credit in the third and fourth quarters of 2021.
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Eligible businesses affected by the COVID-19 pandemic now have until May 31 to apply for a PPP loan. Here’s the latest on the popular loan program.
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Is your business taking full advantage of the Employee Retention Credit?
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Because the American Rescue Plan Act is such an expansive piece of legislation, it’s likely you, your family or your business can benefit from it.
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You’ve probably heard about the new law that provides direct payments to eligible individuals. But what does the law provide to businesses?
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The latest COVID-19-related stimulus bill, the American Rescue Plan Act, has now passed. How can you benefit?
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The Biden Administration has announced five specific reforms to the Paycheck Protection Program that are intended to benefit small businesses.
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Learn how provisions of the new Consolidated Appropriations Act can benefit you and your loved ones.
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Have you lost your job and collecting unemployment? Or are you fortunate to be working from home because of the pandemic? Both of these situations could have tax implications.
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If you hold an interest in a business, or may do so in the future, be aware that the CARES Act has made changes to excess business losses.
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At Jones and Kolb, we are diligently following the PPP forgiveness process. The following is a recent blog posted by the AICPA explaining why borrowers shouldn't rush their PPP loan forgiveness applications. Please call us with any questions.
Do you have a nanny, housekeeper or other household worker? If you pay him or her cash wages of $2,200 in 2020, you must withhold and pay Social Security and Medicare taxes. Learn about this and other tax obligations for household workers.
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Businesses that received PPP loans should be aware of the tax consequences. Here’s a look at the issue.
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The IRS has been actively releasing various relief efforts in response to the COVID-19 pandemic. Qualified opportunity funds (QOFs) and qualified opportunity zone businesses (QOZBs) were also granted relief for certain compliance deadlines.
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Millions of people have already received their Economic Impact Payments, which are being sent by the government to help mitigate the effects of COVID-19. In some cases, the payments should be returned.
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If you need money due to COVID-19, you may be able to take a tax-free “coronavirus-related distribution” from a retirement plan. The IRS has released guidance explaining who qualifies for one of these distributions.
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SEnate Passes PPP Fix which will allow more flexibility in using the PPP funds passed the Senate on June 3.
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Colin Blalock joins Erik Christensen of Bulldog Movers to discuss issues relative to where we are today.
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Food and financial insecurity have increased during the coronavirus (COVID-19) pandemic. If your business is donating to charity to help ease the pain, you may be eligible for enhanced charitable donation deductions.
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The tax consequences of obtaining PPP loan forgiveness and other federal relief options can prove complicated, especially with the IRS and the U.S. Treasury Department regularly releasing new regulations and guidance. We can help you keep up with the latest developments and what they mean for you.
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