Posts Tagged ‘CARES ACT’
PPP FAQs (Paycheck Protection Act Frequently Asked Questions)
PPP FAQs (Paycheck Protection Act Frequently Asked Questions) PPP FAQs (Paycheck Protection Act Frequently Asked Questions). Since the announcement of the Coronavirus Aid, Relief, and Economic Security ACT (CARES Act), it has sparked both interest and confusion amongst all those considering taking advantage of its benefits. Particularly the Paycheck Protection program, or PPP. In an…
Read MoreClarification of Tax Treatment of Covered Loan Forgiveness
Clarification of Tax Treatment of Covered Loan Forgiveness CARES Act Sec. 1102 provides that a recipient of a PPP loan may use the loan proceeds to pay payroll costs, certain employee benefits relating to healthcare, interest on mortgage obligations, rent, utilities, and interest on any other existing debt obligations. If a PPP loan recipient uses…
Read MoreCOVID-19 Stimulus Round 4, which plan will go into effect?
COVID-19 Stimulus Round 4, which plan will go into effect? Many people have been looking forward to the government’s next round of COVID-19 stimulus– sadly, the fourth wave of COVID-19 relief and the laws around it have become highly politicized and appear to be caught in gridlock between the House and Senate. While both Republicans…
Read MoreIRS Shutters Some Operations, Self-Employed Get Unemployment and Track your Stimulus Check
IRS Shutters Some Operations, Self-Employed Get Unemployment and Track your Stimulus Check “The IRS is unable to process paper tax returns, respond to paper correspondence or staff toll-free live service lines. Please use all electronic options available to you on IRS.gov or through your tax software provider.” IRS shutters some operations, self-employed get unemployment and…
Read MoreCorona Virus Relief (CARES ACT)
Today we’re talking all about the Corona Virus Re…
Read MoreShort summary of CARES ACT
Short summary of CARES ACT in a letter sent by one of our partners to some of his clients: Dear Clients and Friends: I hope you are doing as well as possible. Congress passed (with only one “no” vote in the House of Representatives) and the President signed (on Friday) the Coronavirus Aid, Relief, and…
Read MorePresident Trump Signs CARES ACT, What Does this Mean?
Fremont California, March 27, 2020 – President Trump Signs CARES ACT. As COVID-19 continues to threaten almost every aspect of our lives, our government has expedited passing legislation and President Trump has signed, the Coronavirus Aid, Relief, and Economic Security (CARES) ACT. The CARES ACT is a massive bill, the majority of which does not…
Read More