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Standard Mileage Rates

The following table summarizes theĀ optionalĀ standard mileage rates for employees, self-employed individuals, or other taxpayers to...

Consolidated Appropriations Act Expands Employee Retention Tax Credit

The Employee Retention Tax Credit (ERC) was originally enacted by the CARES Act (PPP1) and...

Paycheck Protection Program Second Loan Draw

The CARES act authorized the SBA to make loans to qualified businesses under certain circumstances...

Economic Impact Payments

Internal Revenue Service and the Treasury Department will begin delivering a second round of Economic...

PAYCHECK PROTECTION PROGRAM/CARES ACT: ROUND 2

On December 21, 2020, Congress passed legislation that would provide tax and direct spending relief...

2020 Year End Letter

Dear Clients and Colleagues, Last year’s Tax Cuts and Jobs Act (TCJA) of 2019 was...

TAXABILITY OF PPP LOAN PROCEEDS FORGIVEN

In the original CARES act legislation, the intent was for the Paycheck Protection Program (PPP)...

SIMPLIFIED PAYCHECK PROTECTION PROGRAM (PPP) REPORTING

Recipients of Paycheck Protection Program (PPP) loans of $50,000 or less will be able to...

REQUIRED MINIMUM DISTRIBUTIONS (RMD) WAIVED FOR 2020

Included in the massive CARE bill are several relief provisions for retirement accounts. The one...