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Here is the Update to the Employee Payroll Tax Deferral
Last August, the U.S. Department of Treasury was ordered to defer collecting certain payroll taxes from wages earned between Sept. 1 and Dec. 31, 2020. The Internal Revenue Service (IRS) issued Notice 2020-65 to provide employee payroll tax deferral guidance for...
Here is the New PPP Loan Guidance
It was recently announced by the U.S. Small Business Administration (SBA) that beginning the week of January 11, the Paycheck Protection Program (PPP) will re-open for new borrowers and certain existing PPP borrowers. According to the SBA, only community financial...
Have the Tax Credits for Paid Leave Been Extended?
A new $900 billion coronavirus relief bill has become law and answers the question of whether federal Emergency Paid Sick Leave (EPSL) and Emergency Family and Medical Leave (EFMLA) will be extended. The answer is yes, but it’s an option, not a requirement. Here’s...
Who is Eligible for the New Simpler PPP Loan Forgiveness?
The Small Business Administration (SBA) and the U.S. Department of Treasury (Treasury) recently released a simpler Paycheck Protection Program (PPP) Loan Forgiveness Application Form 3508S and instructions. This updated, simpler PPP loan forgiveness two-page...
