What Led to Congress Extending the Paycheck Protection Program?

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The economic uncertainty created in the outset of the Coronavirus pandemic was unprecedented, to say the least. This is a big part of the reason why, soon after the spread began, Congress took steps that were equally drastic - they passed the…

Loan Application Period for the Paycheck Protection Program Extended

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Article Highlights:   Loan Application Period Extended Paycheck Protection Program Qualifying Expenses Loan Forgiveness If you missed the opportunity to apply for a Paycheck Protection Program (PPP) loan before the program…

The July 15th Deadline Is Fast Approaching, and it Isn’t Just for the 2019 Individual Tax Return

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The July 15th Deadline Is Fast Approaching, and it Isn’t Just for the 2019 Individual Tax Return Article Highlights:   Extensions Contributions to IRAs Estimated Tax Payments for the First Two Quarters of 2020 Individual…

Don’t Throw Away That Notice 1444

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Article Highlights:   Notice 1444 You May Qualify for Additional Credit on the 2020 Return Tax Records The IRS is mailing all recipients of Economic Impact Payments a Notice 1444 that provides information about the amount…

IRS and Treasury Release the Latest State-By-State Economic Impact Payment Figures

IRS and Treasury Release the Latest State-By-State Economic Impact Payment Figures The Treasury Department and the IRS released updated state-by-state figures for Economic Impact Payments (EIPs) on May 22nd, reflecting the opening weeks…
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Important information for any business who has received a PPP loan – this will be of interest to you.

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To apply for forgiveness of your Paycheck Protection Program (PPP) loan, you (the Borrower) must complete this application as directed in these instructions, and submit it to your Lender (or the Lender that is servicing your loan). Borrowers…
Couples and COVID-19: Here are 5 Ways to Work Together During the Pandemic to Protect Your Finances

Couples and COVID-19: Here are 5 Ways to Work Together During the Pandemic to Protect Your Finances

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The coronavirus pandemic has changed our lives in many ways, and whether you’re thinking about the physical and social aspects or the financial aspects, there is no clear end in sight. The American economy has fallen to a dramatic degree,…
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Spotlight: How to Apply for Advance Payment (Refund)

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The IRS has issued a final version of Form 7200 (Advance Payment of Employer Credits Due to COVID-19) and its accompanying instructions on March 31, 2020. Sick and family leave credits. The Families First Coronavirus Response Act (FFCRA) requires…
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Spotlight: Deferral of employment tax deposits and payments through December 31, 2020

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The Coronavirus, Aid, Relief and Economic Security Act (CARES Act) allows employers to defer the deposit and payment of the employer's share of Social Security taxes and self-employed individuals to defer payment of certain self-employment taxes. Section…
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Spotlight: Employee Retention Credit under the CARES Act

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The Coronavirus Aid, Relief, and Economic Security Act (CARES Act), enacted on March 27, 2020, is designed to encourage Eligible Employers to keep employees on their payroll, despite experiencing economic hardship related to COVID-19, with an…