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) Treasury Department and SBA announce reopening dates for Paycheck Protection Program – Jan. 11, 2021 and Jan. 13, 2021.
(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) SBA releases two PPP reopening guidance packages. The first for new borrowers and the second for the second-draw program.
(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.
(authored by RSM US LLP) Last minute negotiations pave way for Congress to pass second major COVID-19 stimulus package with tax law changes and tax…
(authored by RSM US LLP) After negotiations go to the 11th hour, Congress passes tax fix for PPP, changes to loan forgiveness and establishes second-draw…
(authored by RSM US LLP) Last push for stimulus funding before year-end provides PPP deductibility obviating need to plan around nondeductibility of PPP expenses.
(authored by RSM US LLP) PPP borrowers, especially fiscal year taxpayers, should consider extending tax returns and delay loan forgiveness filing (unless necessary).
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 and…