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The IRS issued Rev. Proc. 2020-25 on April 17, 2020, providing guidelines for how taxpayers can take advantage of the recently enacted technical correction to the rules for qualified improvement
On April 9, 2020, the Internal Revenue Service and Treasury issued additional guidance to specifically address the new net operating loss (NOL) rules included in Section 2303(b) of the CARES
In deference to fairness, on April 9, 2020, the Internal Revenue Service issued Notice 2020-23, which extended the tax filing and payment deadline to now apply to all taxpayers that
In the flurry of releasing millions of dollars of loan requests from small businesses under the CARES Act’s Paycheck Protection Program (PPP), the Small Business Administration (SBA), in consultation with
There has been a flood of information (and misinformation) about the Paycheck Protection Program (PPP) included in the Coronavirus Aid, Relief and Economic Security (CARES) Act that provides eligible small
There are numerous relief programs available to small business owners negatively impacted by the Coronavirus pandemic. We have previously posted detailed information on each these programs, which can be accessed
As with nearly all of the guidance being issued regarding the COVID-19 relief programs, information regarding the Paycheck Protection Program Loans continues to evolve. On April 2, 2020, the SBA
On April 1, 2020, the U.S. Department of the Treasury and the Internal Revenue Service announced that Social Security beneficiaries who are not typically required to file tax returns will
Internal Revenue Service guidance on various aspects of the recently passed economic stimulus bills continues to be released on a fast and furious pace. The most recent release, Notice IR-2020-62,
With all of the commentary and focus on the potentially-forgivable Paycheck Protection Program loans included in the Coronavirus Aid, Relief and Economic Security (CARES) Act, most companies suffering a negative
On March 30, 2020, the Pennsylvania Attorney General’s office launched “PA CARE Package,” an initiative focused on securing economic relief for Pennsylvanians impacted by the COVID-19 outbreak. This program will
UPDATE (4/1/20): Applications for small businesses and sole proprietorships will be available April 3, 2020. Independent contractors and self-employed individuals can apply beginning on April 10, 2020. Click here for
