May 28, 2020
IRS Announces Form 1040-X Electronic Filing Options Coming This Summer; Major Milestone Reached for Electronic ReturnsWASHINGTON- The Internal Revenue Service announced today that later this summer taxpayers will for the first time be able to file their Form 1040-X , Amended U.S Individual Income Tax... read more
May 23, 2020
Review Procedures and Related Borrower and Lender Responsibilities for SBA PPP LoanThe Small Business Administration (SBA) has released a guidance titled, "Business Loan Program Temporary Changes; Paycheck Protection Program – SBA Loan Review Procedures and Related... read more
May 23, 2020
Interim Final Rule on Loan Forgiveness for PPP ReleasedThe Small Business Administration (SBA) and the U.S. Treasury have released an interim final rule, Paycheck Protection Program Requirements - Loan Forgiveness . The rule speaks to the Loan... read more
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May 18, 2020
GSCPA Call with Senator David PerdueOn May 15, 2020, The Georgia Society of CPAs (GSCPA) hosted a call with a legislative update from Senator David Perdue. The legislative update focused on where Georgia and the nation stand in... read more
May 15, 2020
Paycheck Protection Program Loan Forgiveness ApplicationSBA and Treasury have just released the Paycheck Protection Loan Forgiveness Application in SBA Form 3508. To apply for forgiveness of your Paycheck Protection Program (PPP) loan, you (the... read more
May 14, 2020
IRS People First Initiative Provides Relief To TaxpayersDue to COVID-19 , the IRS is providing relief on a variety of issues as part of the People First Initiative . The IRS is modifying certain activities through the filing and payment deadline,... read more
May 13, 2020
“Necessity” Certification for PPP Loan/SBA Issues $2.0 Million Safe HarborThe SBA has just issued an additional FAQ (#46) providing a safe harbor for smaller borrowers so far as the “necessity” certification. Borrowers with loans less than $2.0 million... read more
May 8, 2020
COVID-19 paid leave tax credits for small and midsize businessesSmall and midsize employers can claim two new refundable payroll tax credits. The paid sick leave credit and the paid family leave credit are designed to immediately and fully reimburse eligible... read more
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