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PPP forgiveness guidance issued as Congress mulls changes

Treasury and the U.S. Small Business Administration (SBA) released new Paycheck Protection Program (PPP) guidance Friday night that provided some clarity on several loan forgiveness questions but didn’t address the two parts of PPP that arguably have generated the most concerns among the millions of small businesses and other entities that have received funding. Two [...]

By |2020-05-26T14:43:29+00:00May 26th, 2020|Business Finance|0 Comments

How will your company recover after COVID-19?

The economic impact of the coronavirus pandemic came so quickly and hit so hard that companies worldwide are trying to stabilise their business to the point where they can recover. When Deloitte surveyed CEOs, senior managers, and HR leaders in China, which was affected by the coronavirus first, 66% said they were unable to serve [...]

By |2020-05-18T14:10:08+00:00May 18th, 2020|Business Finance|0 Comments

Taxpayers must act soon for direct deposit of stimulus payments

The IRS announced Friday that time is running out for taxpayers to go to the Get My Payment website to enter their direct deposit information in order to receive an electronic economic impact payment (IR-2020-92). Taxpayers must enter their bank account information, if needed, by noon on Wednesday, May 13. After that date, any stimulus payments that [...]

By |2020-05-11T13:48:33+00:00May 11th, 2020|Personal Finance|0 Comments

IRS recalls thousands of employees to work and asks them to bring their own safety gear

The IRS will start recalling “certain employees in mission-critical functions” to agency offices starting Monday, though it is urging them to bring their own face masks and suggesting the employees can make them out of t-shirts or bandanas, according to an internal memo circulated Saturday by two lawmakers. Tony Reardon, who heads the National Treasury Employees [...]

By |2020-04-27T13:30:35+00:00April 27th, 2020|Personal Finance|0 Comments

The Reopening Challenge: 5 Tips for Getting Back to Business Business as usual may look very different after the coronavirus pandemic. Here’s what you need to do before reopening.

Companies that are preparing to reopen in the coming weeks still need to be in "survival mode" if they want to outlast the impact of the coronavirus pandemic. That's according to Marilyn Landis, CEO of Basic Business Concepts, which provides CFO services to small companies. Landis spoke at the National Small Business Town Hall, a live webinar hosted by Inc. and the [...]

By |2020-04-20T13:14:56+00:00April 20th, 2020|Business Finance|0 Comments

Coronavirus paid sick leave and family leave guidance issued

Under a recently enacted law, eligible small and midsize employers can claim two new refundable payroll tax credits, designed to reimburse them, dollar for dollar, for the cost of providing coronavirus-related leave to their employees. The relief was enacted under the Families First Coronavirus Response Act, P.L, 116-127, signed by President Donald Trump on March 18, [...]

By |2020-03-30T13:50:26+00:00March 30th, 2020|Personal Finance|0 Comments

Taxpayers can check the status of their refund on IRS.gov or the IRS2Go App

Taxpayers who filed their 2019 tax return and are waiting for their refund can check their refund status by going to IRS.gov and clicking on Get Your Refund Status to access the Where's My Refund? tool.   People can check the status of their tax return about 24 hours after the IRS acknowledges receipt of an electronically filed [...]

By |2020-03-16T14:39:11+00:00March 16th, 2020|Personal Finance|0 Comments

Tax Reform Redux: Most Taxpayers Didn’t Adjust Their Withholding Before 2020 Filing Season

Even though many taxpayers were surprised to receive smaller refunds for the 2019 tax year, it is likely many still did not heed warnings about adjusting their withholding before the current tax filing season. According to this survey, 56 percent of ... Taxpayers are ill-informed about changes to the tax law that may impact them [...]

By |2020-03-09T14:01:21+00:00March 9th, 2020|Personal Finance|0 Comments