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| COVID Related
Paycheck Protection Program – Round 2
April 27, 2020 - The President signed the Paycheck Protection Program and Health Care Enhancement Act into law on April 24, 2020.
| COVID Related
Deferment on Payment of Payroll Taxes
April 22, 2020 - You can’t watch the news or read a news article without hearing about the “Coronavirus Aid, Relief, and Economic Security Act” or ”CARES Act”, at least the more publicized parts of it. One relief provision of the CARES…
| COVID Related
The CARES Act Provision Allows Deferral of Social Security Tax Payments
April 14, 2020 - The IRS has recently come out with guidance regarding the ability to defer payment of the "employers portion" of social security tax under the CARES Act (The Act).
| COVID Related
Notice 2020-23 Extended Additional Key Tax Deadlines for Individuals and Businesses
April 14, 2020 - On April 9, 2020 the Treasury Department and IRS announced Notice 2020-23 which expands on previous relief provisions for affected taxpayers related to COVID-19 and (1) provides postponement of due dates with respect…
| COVID Related
Custom Accounting Solutions (CAS): Free to Focus in Challenging Times
April 10, 2020 - The COVID-19 pandemic has created anxiety and a disruption to business owners. Business owners are facing extreme concerns about the health of their employees along with the well-being of their business. Back office…
| COVID Related
Impact of the CARES Act on Not-for-Profit Organizations
April 3, 2020 - On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief, and Economic Security (CARES) Act (the “Act”), a $2 trillion economic stimulus package intended to provide needed assistance to individuals,…
| COVID Related
Gift Tax Returns Added to July 15 Tax Filing Deadline
April 2, 2020 - On March 20, 2020, the IRS published Notice 2020-18 postponing both the filing and payment deadlines for income tax returns from April 15 to July 15, 2020.
| COVID Related
Employee Retention Credit for Employers Subject to Closure due to COVID-19 (Section 2301 of the CARES Act)
March 30, 2020 - While the Families First Coronavirus Response Act (FFCRA) allows payroll credits for employers who are required to provide paid leave to employees affected by COVID-19, the employee retention credit under the CARES Act…
| COVID Related
Paycheck Protection Program (PPP) - CARES Act Section 1102 & Small Business Administration (Economic Injury Disaster Loan)
March 30, 2020 - The $2.2 trillion coronavirus stimulus bill was enacted by Congress on March 27, 2020.
| COVID Related
CARES Act: Retirement Plan Provisions
March 29, 2020 - The stimulus package signed into law on March 27, 2020 gives financial relief to retirement plan participants who have been affected by COVID-19. Some of the key provisions include:
| COVID Related
Coronavirus Aid, Relief and Economic Security (CARES) Act
March 27, 2020 - Millions of American businesses have anxiously awaited the passage of the Coronavirus Aid, Relief and Economic Security (CARES) Act.