April 5, 2020
For the calculation of the Average Monthly Payroll cost under the Paycheck Protection Program (PPP), the Gross Payroll approach should be used for the application, according to the recommendation from the AICPA-led small business funding coalition.
April 4, 2020
The Department of the Treasury (Treasury) announced on April 1 that Social Security beneficiaries who are not typically required to file tax returns will not need to file an abbreviated tax return to receive an economic impact payment.
April 3, 2020
Downloadable PDF of the Small Business Administration's Paycheck Protection Program borrower application form. For use by small businesses requesting Coronavirus relief loans from the SBA.
April 2, 2020
There are many technology options to work remotely, including video conferencing technology to conduct employee and client meetings, tax software via the cloud, and a hosted desktop environment that employees can access from anywhere, anytime.
April 2, 2020
In response to the Internal Revenue Service’s (IRS’s) recent announcements concerning temporary closures of its Practitioner Priority Service line, e-Services, Filing Information Return Electronically, and Affordable Care Act Information Returns ...
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April 2, 2020
The Internal Revenue Service is warning taxpayers to be on the lookout for a surge of calls and email phishing attempts about the Coronavirus, or COVID-19. These contacts can lead to tax-related fraud and identity theft.
April 2, 2020
As projections of the coronavirus death toll soar, forecasts for the ensuing economic carnage have also quickly turned much darker – both for the depth and duration of the damage.
April 2, 2020
Initial U.S. unemployment insurance claims rose last week to over 6.6 million, bringing the total number of people to file initial claims in the last two weeks to nearly 10 million.
April 1, 2020
Small businesses shuttered by coronavirus countermeasures can start applying for emergency loans to cover payroll and other costs as soon as Friday, according to Treasury Department guidance.
March 31, 2020
The amount of the credit is 50% of qualifying wages paid up to $10,000 in total. Wages paid after March 12, 2020, and before Jan. 1, 2021, are eligible for the credit. Wages taken into account are not limited to cash payments, but also include a ...
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March 31, 2020
As COVID-19 continues to spread across the United States and throughout the world, Maryland CPAs say their biggest concerns center on counseling clients, balancing the bottom line, understanding new laws and regulations and ...
March 31, 2020
Targeting the guys who would sell you the Brooklyn Bridge, state and federal authorities say coronavirus has empowered a new class of scam arts and speculators who see the crisis as a money-making opportunity, and are marshaling manpower to stop them.