By Denise Felber, CPA, Tax Partner In conformance with CDC guidelines, the IRS employees have been working remotely and/or have been limited in time spent in the office due to social distancing. This has generated a HUGE backlog of correspondence, … Continued
By Mallory Taylor, CPA, Tax Partner Your business may be eligible for the Employee Retention Tax Credit (ERTC) and may be entitled to a refund of the credit on your prior payroll taxes. Businesses who borrowed forgivable loans under the … Continued
By Denise Felber, CPA, Tax Partner For more information eligibility for the Employee Retention Tax Credit (ERTC) or a refund of the credit on your prior payroll taxes, read Further Detail Regarding Government Shutdown & Revenue Decreases Period of availability: March … Continued
By Michelle Mann, CPA, Tax Senior Manager and Leah McLain, CPA, Advisory Practice Consulting Executive On December 27, 2020, President Trump signed the Consolidated Appropriations Act, 2021 into law. This legislation is a $2.3 trillion spending bill which includes $900 … Continued
UPDATE: This article has been updated to reflect the legislation’s passage into law on December 27, 2020 For more information on how this law impacts the Paycheck Protection program, read Updates to the Paycheck Protection Program On December 27th, congressional … Continued
UPDATE: This article has been updated to reflect the legislation’s passage into law on December 27, 2020 By Clay Glasgow, CPA, ABV, CFF, CFE, Advisory Partner and Leah McLain, CPA, Advisory Practice Consulting Manager For more information on the tax … Continued
By Clay Glasgow, CPA, ABV, CFF, CFE, HoganTaylor Advisory Partner On October 2, 2020, the SBA issued a Procedural Notice with guidance regarding changes in ownership of an entity that has received PPP funds. The Notice defines “change of ownership” … Continued
On August 24, the SBA issued an Interim Final Rule on the Paycheck Protection Program. The following questions are taken word for word from the IFR (emphasis and formatting added). To read the IFR in its entirety click here. Owners Are … Continued
By Jason Shultz, CPA, Assurance Partner, HoganTaylor LLP Many businesses have taken advantage of the R&D tax credit. With the pandemic, there are opportunities and legislation that could impact your credit. We’ve also found that far too many businesses have … Continued
By Leah McLain, CPA, Advisory Practice Consulting Manager, HoganTaylor LLP. On August 4, 2020, the US Small Business Administration (SBA) released a series of new Frequently Asked Questions (FAQs) specifically addressing Paycheck Protection Program (PPP) loan forgiveness. The FAQs can … Continued
