Congress: What We’re Watching

Over the past six months, we have seen nearly $2.7 Trillion in combined COVID-19 relief funding from Congress via the Families First, CARES, and PPP and Health Care Enhancement Act; however, many significant items remain unaddressed.

2020-09-09T17:41:35-04:00September 9, 2020|Categories: PBMares COVID-19 Insights, Tax: Business, Tax: Individual|Tags: |

How the Payroll Tax Deferral Works for Employers

On August 8, 2020, President Trump issued a Presidential Memorandum allowing for the deferral of employee social security payroll tax obligations due to COVID-19.

2020-09-02T13:22:59-04:00September 1, 2020|Categories: PBMares COVID-19 Insights, Tax: Business|Tags: , |

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. 

2020-07-29T11:06:08-04:00July 28, 2020|Categories: PBMares COVID-19 Insights|Tags: |

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.

2020-07-02T11:32:14-04:00July 2, 2020|Categories: PBMares COVID-19 Insights, Tax: Business|Tags: , |

New PPP Loan Forgiveness Applications Released

On Tuesday, June 16th,  Treasury and the SBA released updated PPP loan forgiveness applications, including an alternative EZ application that is designed to simplify the process for those who meet certain criteria.

2020-06-19T17:19:27-04:00June 18, 2020|Categories: PBMares COVID-19 Insights, Tax: Business|Tags: , , |

PPP Flexibility Act Payroll Guidance

The SBA recently released guidance on two major issues in the PPP Flexibility Act. The first addresses the PPP Flexibility Act's adoption of a 24-week covered period, in lieu of an 8-week covered period, regarding payroll.

2020-06-17T14:20:11-04:00June 17, 2020|Categories: PBMares COVID-19 Insights, Tax: Business|Tags: , , |

Didn’t Receive a PPP Loan? Employee Retention Credit and Other CARES Benefits Available

If your business didn’t qualify for or secure a PPP loan, there are several other tax benefits provided by the CARES Act.  Here we’re going to take a closer look at some of the most advantageous programs available.

2020-05-27T12:19:37-04:00May 26, 2020|Categories: COVID-19 Business Resources, PBMares COVID-19 Insights|Tags: , , |