We understand the need for guidance in this rapidly changing time of COVID-19. We’ve created this Coronavirus Resource Center as a place you can look to provide answers on relief legislation, tax and regulatory guidance and impact to the economy.
Information is being updated on an ongoing basis. Please refer to the most recent updates first as earlier posts may be superseded by more recent guidance. As always, please don’t hesitate to contact a LaPorte professional for advice on your unique situation.
The IRS once again addressed the deductibility of eligible Paycheck Protection Program (PPP) loan expenses. On Wednesday November 18th, the IRS released Revenue Ruling 2020-27
(authored by RSM US LLP) Borrowers (and affiliates) that have PPP Loans of $2 million or greater should be prepared to provide additional information to SBA.
On October 2, 2020, The Small Business Administration issued Notice 5000-20057 outlining specific reporting procedures that are required for entities that have received Paycheck Protection
On September 19, 2020, the U.S. Department of Health and Human Services (HHS) updated their Post-Payment Notice of Reporting Requirements from August 14, 2020 (the
(authored by RSM US LLP) Following the President’s memo on August 8, Treasury releases very short Notice 2020-65 delaying the deadline for employee FICA tax.
When Congress passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act on March 27, 2020, they sanctioned much-needed relief payments to healthcare providers across