Employee Benefit Plans

UPDATE: Paycheck Protection Program - Extended to May 31

UPDATE: Paycheck Protection Program – Extended to May 31

On March 30, 2021, President Biden signed the PPP Extension Act of 2021 into law, extending the Paycheck Protection Program…

US Capitol

American Rescue Plan Act of 2021

On March 11, 2021, President Biden signed into law the $1.9 trillion American Rescue Plan Act of 2021. The legislation…

IRS Extends Deadline

Many news agencies, late yesterday and this morning, have been reporting the IRS is planning to extend the April 15,…

Tax Tips

4 Important Changes on Your 2020 Tax Return

Tax season has started. Your tax professional is ready to prepare your 2020 federal and state returns — but are…

Updates to PPP Loan Amounts for Schedule C Filers

On March 3, 2021, the Small Business Administration released new Frequently Asked Questions, Interim Final Rules and multiple new forms…

Uncertain PPP Taxation for State Taxes

Uncertain PPP Taxation for State Taxes In late December 2020, taxpayers received resolution that they would not only be exempt…

Webinar: The Employee Retention Credit: New Rules and Greater Impact

The Employee Retention Credit (ERC), a lucrative credit, was not utilized by many in 2020. Previously, the credit was not…

Alert: IRS Correction to Form 1096 Zip Code

Correction to the zip code in the Austin Submission Processing Center Mailing Address. The IRS has issued an alert on…

2021 Tax Inflation Adjustments & Tax Rates

As we begin this new year, please keep in mind the various IRS annual limits and any changes to the…

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Dates Released for PPP2 Loan Application Processing

On January 13, 2021, the Small Business Administration announced specific dates that lenders will be allowed to begin transmitting PPP…