Income Tax

Covid Taxes IRS

May 7, 2020 

3 Tax Credits for Businesses Impacted by Covid-19

The employee retention credit is designed to encourage businesses to keep employees on their payroll. The refundable tax credit is 50% of up to $10,000 in wages paid by an eligible employer whose business has been financially impacted by COVID-19.

PPP Paycheck Protection Program

May 5, 2020 

Most PPP Applicants Still Face Uncertainty on Loans

As the second round of funding for the Paycheck Protection Program (PPP) became available on April 27, 62 percent of PPP loan applicants were still waiting for funding or approval, according to new research from Paychex, Inc.

Charity

April 29, 2020 

Coronavirus Charity: How to Decide Where to Donate

According to a survey of nonprofit organizations by Charity Navigator and Reuters this month, 83% of respondents said they were suffering financially because of the outbreak. Many groups have had to cancel fundraisers and in-person events ...

PPP Paycheck Protection Program

April 29, 2020 

AICPA Suggests Conditions for PPP Loan Forgiveness

The recommendations were made in consultation with an AICPA-led small business funding coalition, CPA firms and other key stakeholders. They build on previous guidelines the AICPA has provided to help bring clarity to the implementation of the PPP.