The Current Operations Appropriations Act of 2021
On November 18, 2021, North Carolina State Governor, Roy Cooper, signed the Current Operations Appropriations Act of 2021 (the Act). Click to learn more.
The Infrastructure Investment and Jobs Act
On November 15, 2021, President Joe Biden signed the Infrastructure Investment and Jobs Act (the Act), a $1.2 trillion bipartisan legislation intended to “build back better” the country’s infrastructure. Click to read more.
Paid Sick and Family Leave Tax Credits Modified and Extended
As part of the COVID-Related Tax Relief Act of 2020 (the Act) signed into law on December 27, 2020, the tax credits for paid sick and family leave have been modified and extended. Click here to learn more.
Provisions Affecting Businesses
On December 27, 2020, President Trump signed into law the Consolidated Appropriations Act of 2021. Click above to read more about the provisions affecting businesses.
Expenses Paid with Payroll Protection Program Loan Proceeds to be Tax Deductible
Congress has developed a new COVID-19 stimulus package that includes income tax relief for Paycheck Protection Program loans. Click to learn more.
Tax Rates 2021
The 2021 payroll tax rates and auto mileage rates have been released. Click above for the complete list of rates.
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 Flexibility Act
On June 5, 2020 President Trump signed into law the Paycheck Protection Program Flexibility Act (PPPFA) to make it easier for borrowers to qualify for 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.