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.
Establishing a Disaster Recovery Plan
When the coronavirus pandemic hit in March, nearly every individual, business and nonprofit organization saw a drastic change in their day-to-day activities. For organizations with a disaster recovery plan in place, many of the obstacles faced had a solution waiting.
Gilliam Bell Moser Social
Afternoon social with the new Gilliam Bell Moser staff.
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.
Paycheck Protection Program Updates
Additional information and guidance related to the Paycheck Protection Program was recently released. Click to learn more about the additional round of funding allocated for PPP Loans.
Tax and Financial Impact of COVID-19 on NFP Organizations
It’s been six weeks since much of life as we know it changed drastically. Many NFP organizations have been forced to shut down, while others are able to still operate at a lesser capacity. Click above to learn more about the impact of COVID-19.
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.