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On April 8, 2021, the Internal Revenue Service issued Notice 2021-25 to provide guidance on the rule changes made under the Consolidated Appropriations Act, 2021 (CAA), which passed in December
Recent tax law changes provide options related to the tax and the 10% penalty assessed for an early withdrawal from a retirement account. The Coronavirus Aid, Relief, and Economic Security
Although the overall attitude of the country seems to be more optimistic as the vaccine rolls out and restrictions are lifted, it will take significant time for the economy to
[UPDATED 3/31/21] The PPP Extension Act of 2021 was overwhelmingly approved (92-7) by the Senate on March 25, 2021 – only a few days before this round of the Paycheck
The U.S. Small Business Administration (SBA) recently released additional details about their Shuttered Venue Operators Grant (SVOG) application portal in advance of opening applications for the much-anticipated economic relief program
Following the lead of the IRS, which recently announced an extension of the filing deadline for federal income taxes for individuals, many states, including Pennsylvania, have given taxpayers an extra
In response to growing pressure from several professional organizations and Congressional leaders (see recent post), the Internal Revenue Service has extended the federal income tax filing due date for individuals.
The Senate version of the American Rescue Plan of 2021, signed into law on March 11, 2021, by President Biden, added a special rule that applies to unemployment compensation for
In a press release issued on March 8, 2021, Chairman of the House Ways and Means Committee Richard Neal (D-MA) has joined others in the call for the Treasury Department
The American Rescue Plan Act of 2021 (ARP or “the Act”) was signed into law by President Biden on March 11, 2021. The $1.9 trillion package follows the 2020 enactment
Long-awaited relief is on the way for Pennsylvania business owners in an industry that has been hit hard by the global pandemic. Restaurants, bars and other hospitality businesses that were
The Business Valuation & Litigation Support Services Group at GYF continues to monitor the impact the coronavirus pandemic has had on the U.S. economy. The vaccine rollout and the new
