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.
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.
On March 27, 2020, President Trump signed the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act” or the “Act”), a massive $2 trillion piece of legislation intended to address the extraordinary impact of the coronavirus (COVID-19) pandemic.
On March 18, 2020, President Trump signed into law the Families First Coronavirus Response Act (the “Act”), which is one of many pieces of legislation that will address the various impacts of the COVID-19 pandemic.
Many disruptions and changes will continue due to the COVID-19 crisis. To help answer questions regarding challenges associated with 401(k) safe harbor contributions, we prepared a question and answer resource.
Just days after issuing guidance deferring the payment of certain tax obligations but maintaining the April 15 tax filing deadline, the IRS has changed course and announced in Notice 2020-18 that it is indeed extending the April 15 tax filing deadline.
Any individual or business owning or possessing personal property used or connected with a business (or other income producing purpose) must file a business personal property tax listing. Click here to learn how to file your business personal property tax listing.
Your business is generally required to issue Form 1099-MISC to all unincorporated service providers to whom it pays $600 or more during the calendar year. Unincorporated service providers include sole proprietors, partnerships, and LLCs not electing to be taxed as a C Corporation or S Corporation.
While not required, separating various scenarios for meals and entertainment is recommended. As a follow-up to our November article, Rules for Meals and Entertainment, here are some best practices for recording and deducting meals and entertainment expenses.
Since donors play such an important role in the operation of a nonprofit, it is important for your organization to acknowledge each donation for a number of reasons.
