Assembly Bill 150 Update
California passed Assembly Bill 150 (AB 150), which allows qualified S corporations, partnerships, or LLCs to pay tax on their individual, trust, or estate owners’ share of the entity’s qualified […]
California passed Assembly Bill 150 (AB 150), which allows qualified S corporations, partnerships, or LLCs to pay tax on their individual, trust, or estate owners’ share of the entity’s qualified […]
President Biden has signed the PPP Extension Act of 2021. The new law extends the Paycheck Protection Program (PPP) application filing deadline from March 31, 2021, to May 31, 2021, […]
The American Rescue Plan Act (ARPA), signed by President Biden on March 11, 2021 provided modification and extension of the employee retention tax credit (ERTC). Background. Congress originally enacted the […]
Today, March 11, 2021, President Biden signed into law the 628-page American Rescue Plan Act (ARPA), which includes $1.9 trillion in funding for individuals, businesses, and state and local governments. […]
The Biden administration has announced several reforms to the popular Paycheck Protection Program (PPP) to bring greater relief to the smallest and most vulnerable businesses. Among other things, the administration […]
The IRS has announced its 2021 cost-of-living adjustments to tax amounts that might affect you. Many increased to account for inflation, but some remained at 2020 levels. As you implement […]
The Consolidated Appropriations Act of 2021 (CAA) was signed into law in late December. The sprawling legislation contains billions of dollars in additional stimulus funding in response to the COVID-19 […]
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 […]
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 […]
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) […]