Dec 28, 2020 | Business Insights
Many have been waiting for the federal government to pass additional COVID-19 economic stimulus legislation. Those who have a had a particular interest in Congress’s activities include small businesses and lenders who received or lent Paycheck Protection Program...
Oct 19, 2020 | Business Insights
Paycheck Protection Program (PPP) loans taken out in connection with the coronavirus (COVID-19) crisis that were subsequently forgiven raise a number of tax questions. A PPP loan may be forgiven in an amount equal to the sum of: (1) payroll costs; (2) interest (but...
Oct 15, 2020 | Business Insights
As the coronavirus pandemic carries on, many creditors, including landlords and lenders, are wondering to what extent they can enforce leases and contracts, given various relief programs that have been instituted by federal, state, and local governments, such as...
Oct 14, 2020 | Business Insights
IRS Office of Chief Counsel monthly payroll industry call on September 3, 2020 In addition to Notice 2020-65 and Instructions to Form 941 which we outlined in our recent blog, the IRS Office of Chief Counsel for employee benefits, exempt organizations and employment...
Oct 8, 2020 | Business Insights
On October 1, 2020, the IRS released instructions for Form 941 providing additional guidelines for reporting deferred Social Security taxes pursuant to the President’s Memorandum (discussed previously on our blog) and IRS Notice 2020-65. Background On August 8,...
Sep 1, 2020 | Business Insights
On August 8, 2020, President Trump signed a Presidential Memorandum directing the Treasury Department to defer the employee’s portion of Social Security taxes due to the COVID-19 pandemic for wages paid from September 1, 2020 through December 31, 2020 (see our...
