2020 COVID Relief Affecting Individual Taxpayers
Tax Season is here. Before you gather and submit your 2020 tax information, here are a few things you need to know. Below is an overview of key provisions in...
Tax Season is here. Before you gather and submit your 2020 tax information, here are a few things you need to know. Below is an overview of key provisions in...
(authored by RSM US LLP) States may not allow the gross income tax exclusion provided by the federal program, resulting in taxable discharge of indebtedness income....
(authored by RSM US LLP) Paycheck Protection Program (PPP) loan recipients may now qualify for the employee retention tax credit based on new legislation signed....
(authored by RSM US LLP) Treasury Department and SBA announce reopening dates for Paycheck Protection Program - Jan. 11, 2021 and Jan. 13, 2021....
(authored by RSM US LLP) Until a significant amount of the population is vaccinated, widespread remote work will continue to be a standard practice for businesses....
Recovery Rebate Stimulus Payments and Credits December 2020 Stimulus Payments The bill provides a refundable tax credit in the amount of $600 per eligible family member. The credit is $600 per...
This may be one of the most important sections of the December 2020 Tax Act for Businesses. It may provide significant tax credits on Forms 941 and 944. Original Employee Retention...
Paycheck Protection Program – December 2020 Changes The Consolidated Appropriations Act changes the PPP Loan Program primarily in three ways. First, the Act allows new PPP loan applications to be submitted...