The U.S. Small Business Administration (SBA) and Treasury issued guidance Wednesday night for the reconstituted Paycheck Protection Program (PPP). The guidance included two interim final rules (IFRs). The 82-page IFR “Business Loan…
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From the American Institute of Certified Public Accountants (AICPA) Yesterday afternoon, Congress released the text of its $900 billion pandemic relief bill. With over 5,500 pages, there’s a lot we…
Many businesses have suffered during this economic downturn caused by the coronavirus pandemic. You’ve read about them in the media. But what you don’t read about as often are the…
The CARES Act was enacted to provide immediate assistance to individuals, families, and businesses affected by the COVID-19 emergency. Among the provisions contained in the CARES Act are provisions authorizing…
On June 5, 2020, the Paycheck Protection Program Flexibility Act (PPPFA) was signed into law. The PPPFA modifies the PPP to allow businesses whose PPP loans are forgiven to continue…
This FAQ is not included in the Internal Revenue Bulletin, and therefore may not be relied upon as legal authority. This means that the information cannot be used to support…
IRS Launches “Get My Payment” Tool: The IRS has launched its “Get My Payment” tool, which allows taxpayers to check the status of their economic impact payment. The tool provides…
Expanding on its earlier notices in response to the COVID-19 pandemic, the IRS and Treasury Department said in Notice 2020-23 (Notice) that almost all taxpayers with a filing or payment…
How to use the on-line tool: To locate the tool, users will need to go to Non-filers: Enter Payment Info here, and provide basic information, including Social Security number, name, address, and…
IRS extends more tax deadlines to cover individuals, trusts, estates, corporations In a Notice, the IRS has extended more tax deadlines to cover individuals, estates, corporations and others. This extension…