Going Forward

The latest industry news, tax updates and strategies for success.

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PPP Forgiveness: Dramatic Changes This Week

On June 3, 2020, the Senate passed the Paycheck Protection Program Flexibility Act of 2020…

IRS Provides Updated FAQS for Corporate Net Operating Loss Carrybacks

Over the past week the IRS has posted several updates to its Frequently Asked Questions…

PPP Loan Forgiveness: The Two New Interim Final Rules & What’s Next for Borrowers

On May 22nd, the Small Business Administration (SBA) issued the fourteenth and fifteenth Interim Final…

Maryland Business Owners Getting Around Federal SALT Deduction Cap? (and Maryland Paper Return Processing)

Pass-Through Entity-Level Tax 2020 Maryland Senate Bill No. 523 of Maryland’s 441st Session of the…

Have You Considered the Employee Retention Credit?

If you did not receive a Paycheck Protection Program loan, you may want to consider…

IRS Increases Health FSA Carryforward Limit and Cafeteria Plan Flexibility

In response to the changes caused by COVID-19, the IRS has provided additional flexibility for…

SBA Issues PPP Loan Forgiveness Guidance

Click here for the Paycheck Protection Program – Loan Forgiveness Application The Small Business Administration…

SBA Extending Repayment Date for Safe Harbor to May 18, 2020

The U.S. Small Business Administration (SBA) issued a new interim final rule on 5/13/20 allowing…

Employer Withholding Requirements & Income Sourcing

Employer Withholding Requirements Maryland employer withholding requirements are not affected by the current increase in…

Stimulus Payments to Deceased Taxpayers

As taxpayers receive their stimulus payments under the Coronavirus Aid, Relief and Economic Security Act…

An Update Regarding SBA Loan Good-Faith Certification

UPDATED: May 13, 2020 46. Question: How will SBA review borrowers’ required good-faith certification concerning…

Preparing for Re-Entry – Things to Consider When Reopening During the COVID-19 Pandemic

The re-entry of employees to your workplace after mandated responses to the COVID-19 pandemic won’t…