PPP Loans Under $50,000
On October 8, 2020 the SBA and Treasury Department released updated rules and a new forgiveness application Form SBA 3508S…
COVID-19 & Retirement Plans
Under the CARES Act and related Notice 2020-50 issued by the IRS, retirement plan participants affected by COVID-19 can take…
Revised Form 941 – Employers Third & Fourth Quarter 2020 Payroll Taxes
The IRS has released a draft version of the revised Form 941 (https://www.irs.gov/pub/irs-dft/f941–dft.pdf) to be used by employers for third…
RebuildVA Small Business Grant Program
The Commonwealth of Virginia created the Rebuild VA Small Business Grant Program to assist small businesses and non-profits that experienced…
Monitor Overtime Pay for Your Remote Workers: DOL Guidance
Paying your employees for hours that you know they’ve worked is straightforward enough. But what if they’re doing more work…
PPP Forgiveness – A Message to Our Clients
We know you are busier than ever trying to run your business and manage the ever-changing environment under COVID-19 mandates….
Additional Guidance on Deferral of Employee Social Security Taxes Released
On August 28th, the IRS released guidance on the President’s Executive Memorandum regarding the deferral of employees’ social security payroll…
PPP Loan Forgiveness Expenses – Update on Owner Compensation and Related Party Expenses
On August 25th the Treasury Department issued additional guidance related to owner-employees and related party rents and mortgages. The Small…
Executive Order Delaying Payments of Employee Social Security Taxes
On August 8, 2020, President Donald Trump issued a presidential memorandum allowing employees to defer the social security portion of…
Additional PPP Forgiveness Guidance Released
On August 11th the SBA released additional Frequently Asked Questions specifically related to the expenses eligible for PPP loan forgiveness. …