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On April 28, 2021, President Joe Biden presented his American Families Plan to a joint session of Congress. In his speech, the President introduced his administration’s initiatives to “rebuild the
The Small Business Administration (SBA) has announced an opening date for the Restaurant Revitalization Fund (RRF). Advance registration will begin at 9 a.m. EDT on April 30, 2021, and the SBA
New audit independence guidance becomes effective in January 2022 for U.S. audit firms that provide technology services. A few of the key issues related to this guidance are noted below.
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
