Communication, Identification and Documentation for Government Contractors
As a government contractor, you are tasked with continuing contract performance under the risks of uncertain and constantly changing circumstances.
FAQs About the Employee Retention Credit and Refundable Tax Credits
The Paycheck Protection Program helped more than four million businesses continue to pay their employees during the coronavirus pandemic.
What’s in the Potential Next Round of Coronavirus Legislation? Comparing HEROES and HEALS
In May, the Democrat-led House of Representatives passed the $3 trillion Health and Economic Recovery Omnibus Emergency Solutions (HEROES) Act.
Rebuild! VA: Small Business Grants Coming to Virginia!
Beginning August 10, 2020, small businesses and non-profits who did not receive PPP loans will be able to apply for grants from the Rebuild VA Grant Fund.
Club Management in the Era of Covid-19: Cash Flow Challenges
The rapid spread of Covid-19 has sparked a health and economic crisis affecting most industries worldwide. In the hospitality industry, the impact has been particularly sudden and severe.
Congress Approves Extension to Apply for PPP Funds
On Wednesday, July 1, the House passed Senate Bill S.4416 by unanimous consent. The bill, which extends the timeline to apply for PPP funds through August 8, 2020, is headed to the President’s desk for signature.
Deduct Some Losses Due to COVID-19 on Your 2019 Taxes
Over the past several weeks, there has been a lot of attention regarding the tax provisions and federal loan programs such as the Paycheck Protection Program included in the CARES Act.
Expanded Relief to Plan Participants for Coronavirus-Related Distributions
On June 19, 2020, the IRS issued Notice 2020-50 that expands the categories of individuals eligible for plan distributions and plan loans under the Coronavirus Aid, Relief, and Economic Security (CARES) Act.
New Guidance on When to Apply for PPP Loan Forgiveness, Owner-Employees, and Excepted Employees
New guidance released on June 22, 2020, provides businesses with information on when they are able to apply for loan forgiveness, caps on employee-owner compensation, and some clarification on excepted employees in FTE calculations.
IRS Allows the Ability to Rollover Required Minimum Distributions in 2020
On Tuesday, June 23, 2020, the IRS issued a notice clarifying the recent waiver of required minimum distributions (RMD) from retirement plans in 2020.