The Employee Retention Credit, as originally enacted on March 27, 2020 by the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), is a refundable tax credit against certain employment taxes equal to 50% of the...more
3/3/2021
/ CARES Act ,
Coronavirus/COVID-19 ,
Employee Retention ,
Infectious Diseases ,
IRS ,
Paycheck Protection Program (PPP) ,
Payroll Taxes ,
Relief Measures ,
SBA Lending Programs ,
Tax Credits ,
Tax Planning ,
Tax Relief
Congress passed the Consolidated Appropriations Act, 2021 (the Act) on December 21, 2020. The Act, which is 5,593 pages, contains a number of stimulus measures designed to address the economic impact of the coronavirus...more
The Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) provides individuals with a stimulus payment of $1,200 per adult, plus $500 for each qualifying child age 16 and under (subject to phase-outs for higher...more
On May 15, 2020 the Small Business Administration (SBA) released a Paycheck Protection Program Loan Forgiveness Application with related instructions. The application and instructions help answer some of the questions...more
One of the key benefits of a Paycheck Protection Program (PPP) loan is the ability to have all or a portion of the loan forgiven. The amount of a PPP loan that will be forgiven is based initially on the qualifying costs an...more
One of the provisions included in the Coronavirus, Aid, Relief and Economic Security Act (CARES Act) allows an employer and self-employed individuals to defer the payment of the employer’s share of social security taxes (not...more
On March 27, 2020 the the Coronavirus Aid, Relief, and Economic Security Act (the CARES Act or Act), H.R. 748, became law. The Act provides eligible employers a tax credit against employment taxes equal to 50% of qualified...more
The COVID-19 or Coronavirus has disrupted demand in many industries and is wreaking havoc on budgets and cash flow projections. On March 27, 2020 the Coronavirus Aid, Relief, and Economic Security Act (the CARES Act or Act),...more
3/31/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
Employee Retention ,
Excise Tax ,
Income Taxes ,
Net Operating Losses ,
Payroll Taxes ,
Relief Measures ,
Required Minimum Distributions ,
Retirement ,
Tax Credits ,
Tax Deductions ,
Tax Planning ,
Tax Relief ,
Wage and Hour