Estates & Trusts

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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…

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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…

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1099 Reporting Change for 2020

Beginning with reporting for the 2020 tax year, payments made for non-employee compensation will no longer be reported in box…

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New Regional Sales and Use Tax in Central Virginia Region

Effective Oct.1, 2020, a new 0.7% regional retail sales and use tax will be levied in localities in Central Virginia….

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ERISA Notices During the COVID-19 Crisis

Here’s a question about the timing of ERISA Group Health Plan communication during the pandemic. Q: We understand that the…

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401(k) Plan Amendments Due to COVID-19

Here’s a question from a company about waiving the required minimum distribution (RMD) requirement for their 401(k) plan participants. Q….

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PPP Loan Forgiveness – Why Wait?

We know many of our clients are anxious to apply for loan forgiveness and rightfully so.  You know you have…

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Payroll Protection Program Loan Update (July 1)

Congress and the President have acted to extend the Payroll Protection Program (PPP) for an additional 5 weeks, with new…

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PPP Loan Update

1.  Can I apply for forgiveness before my 8 or 24 weeks is up?   Many clients have contacted us…

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Release of Payroll Protection Program (PPP) Forgiveness Applications

Dear clients, The Small Business Administration has released the PPP Loan Forgiveness Application and related instructions. The SBA has also…