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 Please refer to the most recent updates first as earlier posts may be superseded by more recent guidance.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.
(authored by RSM US LLP) Plan sponsor actions to incorporate the provisions of the SECURE and CARES Acts into their plan documents and plan administration.
(authored by RSM US LLP) States may not allow the gross income tax exclusion provided by the federal program, resulting in taxable discharge of indebtedness income.
(authored by RSM US LLP) Our coronavirus white paper has been updated for financial reporting matters related to the Consolidated Appropriations Act, 2021.
(authored by RSM US LLP) The Employee Retention Tax Credit was significantly expanded by the federal relief and stimulus package finalized Dec. 27, 2020.
The Consolidation Appropriations Act, 2021, has extended the Employee Retention Credit (ERC) through July 1, 2021. In addition, the new regulations change which businesses can
(authored by RSM US LLP) Paycheck Protection Program (PPP) loan recipients may now qualify for the employee retention tax credit based on new legislation signed.
(authored by RSM US LLP) Treasury Department and SBA announce reopening dates for Paycheck Protection Program – Jan. 11, 2021 and Jan. 13, 2021.
(authored by RSM US LLP) SBA releases two PPP reopening guidance packages. The first for new borrowers and the second for the second-draw program.