Business Taxation

North Carolina Updates References to Internal Revenue Code and Decouples from Certain Provisions

The SBA has continued to provide updated guidance based on new legislation and to address many of the questions and concerns Borrowers have as they move closer to applying for loan forgiveness. Click to learn more.

Paycheck Protection Program Loan Forgiveness Updates

The SBA has continued to provide updated guidance based on new legislation and to address many of the questions and concerns Borrowers have as they move closer to applying for loan forgiveness. Click to learn more.

Paycheck Protection Program Good Faith Certification

The SBA and Treasury Department recently updated their FAQs to indicate how they would assess the applicant’s good faith certification, and to extend the deadline for repayment. Click to learn more.

By |2022-06-10T11:52:08-04:00May 15th, 2020|Articles, Business Taxation|0 Comments

Recent Guidance for Individuals and Businesses

Over the past few days both the IRS and Small Business Administration released additional guidance to help taxpayers navigate the current COVID-19 crisis. Click for additional information available for both individuals and businesses.

IRS Grants Additional Tax Payment and Filing Relief

On April 9, 2020, the IRS released Notice 2020-23, which is an update to Notice 2020-18, Additional Relief for Taxpayers Affected by Ongoing Coronavirus Disease 2019 Pandemic. This notice provides additional relief to any relief previously granted.

SBA Releases Revised PPP Application and Information for PPP Participants

As part of the CARES Act, the Small Business Administration (SBA) is charged with administering the Payroll Protection Plan (PPP). Click to access the revised loan application and fact sheet for borrowers and lenders.

By |2022-06-10T11:53:19-04:00April 3rd, 2020|Articles, Business Taxation, Uncategorized|0 Comments

Coronavirus Aid, Relief and Economic Security Act (CARES Act)

The CARES Act provides provisions for a new coronavirus related distribution, repayment of distributions, increased loan limits, extended loan repayment periods and waiver of the 10% early distribution penalty. Click to find out more.

By |2022-06-10T11:53:28-04:00April 2nd, 2020|Articles, Business Taxation|0 Comments
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