Tag Archives: Covid


Blog / COVID-19 March 11, 2021

NEW COVID BILL MAY AFFECT YOUR 2020 RETURN

THE NEW COVID BILL MAY AFFECT YOUR 2020 RETURN The new covid relief bill has one item that may affect your 2020 return and one that has a tax planning opportunity. UNEMPLOYMENT: The bill includes $300 per week in unemployment benefits for 2021 up to 9/6/21 BUT The bill also includes a provision to make […]

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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 December 23, 2020

COVID-19 RELIEF BILL TAX PROVISIONS

COVID-19 RELIEF BILL TAX PROVISIONS: Although the stimulus package known as the Covid-19 Relief bill has not been signed by the President, we expect the legislation will pass with or without his approval.  So we expect the following provisions to be in place. We wanted to get this message out to you on key provisions […]

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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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