Additional 2020 economic impact payments
You’ve probably heard that IRS will be making millions of ”economic impact payments” (also called ”recovery rebates”) in the near future to help people stay afloat during this time of […]
Update to original Paycheck Protection Program loan rules
You have asked me about the tax consequences of the Paycheck Protection Program (PPP) loans you have taken out in connection with the coronavirus (COVID-19) crisis. You have told me […]
2020 COVID relief bill provisions affecting individual taxpayers
Here is an overview of key provisions in the recent COVID relief legislation that affect individuals. The legislation is the COVID-related Tax Relief Act of 2020 (the “Act” or COVIDTRA) […]
New law’s tax provisions that affect businesses
The Consolidated Appropriations Act, 2021 (the CAA, 2021), signed into law on December 27, 2020, is a further legislative response to the coronavirus (COVID-19) pandemic. The CAA, 2021 include–along with […]
2021 changes to Paycheck Protection Program second draw
At the end of 2020, Congress passed, and President Trump signed, a new law that provides for additional relief related to the coronavirus (COVID-19) pandemic. This law, the Consolidated Appropriations […]
Continuing the Paycheck Protection Program and Other Small Business Support
On December 27, 2020, the President signed the “Consolidated Appropriations Act (CAA), 2021” which includes Division N – Additional Coronavirus Response and Relief (ACRR). ACCR authorizes $806.5 billion towards the […]
President signs COVID-19 aid package containing billions in funding and tax breaks
After months of negotiations in Washington, an agreement has been struck on a new aid package to address the ongoing fallout from the COVID-19 pandemic. Included in the nearly 5,600-page […]
Paycheck Protection Program (PPP) Update
The CARES Act has authorized billions in forgivable loans to small businesses for job retention and certain other expenses through the PPP. The PPP provided qualifying small businesses and other […]
Gilbert CPAs Shareholder Keith Glen Named to Sacramento Business Journal’s 40 Under 40 Honorees List
Gilbert CPAs is proud to announce that Keith Glen, a Shareholder within our Firm, has been named to the 2020 edition of Sacramento Business Journal’s 40 Under 40 honorees list. […]
The possible tax consequences of PPP loans
If your business was fortunate enough to get a Paycheck Protection Program (PPP) loan taken out in connection with the COVID-19 crisis, you should be aware of the potential tax […]