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IRS Addresses the President’s Executive Order on Employee Payroll Tax Deferral in Notice 2020-65

Update:  Guidance released on August 28th clarified that taxes deferred must be withheld and remitted…

Important Information About IRS Tax Notices

Over the past few months, taxpayers who have sent payments to the IRS have still…

IRS Delivers Temporary Midyear Relief to 401(K) and 403(B) Safe Harbor Plans

Plan sponsors that have already or are considering reducing or suspending contributions to their safe…

President Enacts Option to Defer Certain Payroll Taxes Until the End Of 2020

On August 8, 2020, President Trump issued an executive order which will allow deferral of…

Additional Changes to SBA PPP FAQ on August 4, 2020

Upcoming Sales Tax Holidays

Maryland and Virginia are holding sales tax holidays in the month of August. The “Shop…

Borrower Accounting for PPP Loans

Although the legal form of the PPP loan is debt, some believe the loan is,…

Notice: Paycheck Protection Program has reopened.

The Paycheck Protection Program began accepting new applications July 6, 2020, at 9:00 AM EDT…

IRS Confirms July 15th Deadline Won’t be Pushed Back Again

On June 29, 2020 the IRS confirmed that the July 15th tax deadline will not…

New PPP Loan Forgiveness Applications

This article was published on June 18, 2020. The SBA has finally released updated Paycheck…

IRS Extends Due Dates on Balance Due Notices

Due to the COVID-19 pandemic, the IRS was unable to mail some previously printed balance…

Economic Impact Payment Prepaid Debit Cards

The IRS is now sending out some taxpayer’s stimulus payments on prepaid debit cards. The…