Tag Archives: covid-19


Blog / COVID-19 January 13, 2021

2019 RETURNS & REFUNDS MAY NOT YET BE PROCESSED BY THE IRS

2019 RETURNS & REFUNDS MAY NOT YET BE PROCESSED BY THE IRS We have received messages and calls from some clients indicating that their 2019 return has not been filed or they have not yet received their 2019 federal refund. Rest assured if we efiled your return we have proof of filing from the IRS. […]

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Blog / COVID-19 January 6, 2021

PPP CHAPTER 2 – WHAT ARE THE NEW RULES?

PPP CHAPTER 2 – WHAT ARE THE NEW RULES? Congress just passed the new Covid Relief bill in December.  We will discuss separate parts of the bill in several communications. Today, I want to discuss the new PPP rules (called PPP2) which include $284.5 Billion dollars of relief to business owners. Here are the new […]

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Blog / COVID-19 June 18, 2020

SBA ISSUES LATEST RULES ON PPP LOAN FORGIVENESS

Congress recently passed the payroll Protection Flexibility Act making changes to the loan forgiveness. Today, the SBA issued new forms and the interim final rules. You can find the new forms here: Standard form: https://content.sba.gov/sites/default/files/2020-06/PPP%20Loan%20Forgiveness%20Application%20%28Revised%206.16.2020%29.pdf EZ Form: https://content.sba.gov/sites/default/files/2020-06/PPP%20Forgiveness%20Application%203508EZ%20%28%20Revised%2006.16.2020%29.pdf   The time period is increased from 8 weeks to 24 weeks. Under the new rules, you […]

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Blog / COVID-19 June 4, 2020

PAYCHECK PROTECTION FLEXIBILITY ACT JUST PASSED

The Senate just passed the Paycheck Protection Flexibility Act Wednesday night 6/3/2020. It now goes to the president to be signed.   The major changes to the PPP Program are as follows: You can choose to extend the covered period for loan forgiveness from 8 weeks to 24 weeks, or you can keep the original […]

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Blog / COVID-19 May 12, 2020

PPP Loan Forgiveness When Employees Refuse to Return to Work

What if your employees don’t want to come back to work because the unemployment benefits are too good?   The federal government is supplementing unemployment benefits with an additional $600 per month for 3 months and some employees may make more money on unemployment than if they went back to work. This choice not only affects […]

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Blog / COVID-19 May 4, 2020

PPP LOAN FORGIVENESS MAY COST YOU!

…OR HOW THE IRS SCREWS TAXPAYERS EVEN WHILE ON FURLOUGH. Kick them while they are down!!!! Unbelievable, cruel, ruthless and many other adjectives I wish I could think of for the recent IRS ruling under notice 2020-32       https://www.irs.gov/pub/irs-drop/n-20-32.pdf The CARES act specifically in the law stated that the loan forgiveness in the PPP Program would […]

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