Articles
- PPP Re-Opens to First Time Borrowers Today; Second Draw Applications Accepted on Jan. 13
Paycheck Protection Program (PPP) Policy Update SBA, in consultation with the U.S. Treasury Department, re-opened the Paycheck Protection Program loan portal this morning at 9 a.m. ET. The PPP loan portal system will initially accept First Draw... read more
- GA DOR: Proposed Rule 560-7-8-.45 Film Tax Credit
January 8, 2021, To All Interested Parties: An Income Tax Division Rule is being proposed by the Department. A virtual hearing will be held on February 10, 2021 at 10:00 a.m. The notice, an exact copy, synopsis, and virtual hearing detail... read more
- RR-21-02: Obsoletes Notice 2020-32 and Rev. Rul. 2020-27 due to the enactment of the COVID-related Tax Relief Act of 2020 (Act).
Revenue Ruling 2021-02 obsoletes Notice 2020-32 and Rev. Rul. 2020-27 due to the enactment of the COVID-related Tax Relief Act of 2020 (Act). The Act retroactively amends the CARES Act to provide that no amount is included in the gross income... read more
- IRS Statement about Second Economic Impact Payments and Get My Payment
The IRS updated the Get My Payment tool with information related to the second round of Economic Impact Payments. There is currently heavy demand on the tool given the large number of payments going out and people using the tool. While the... read more
- SBA Extends Application Deadline for COVID-19 Economic Injury Disaster Loan Program
This week, SBA announced that the deadline to apply for a COVID-19 pandemic Economic Injury Disaster Loan has been extended to December 31, 2021. To date, SBA has approved $197 billion in low-interest loans, which provide U.S. small businesses,... read more
- GA DOR: Annual Notice of Interest Rate Adjustment for 2021
January 5, 2021, To All Interested Parties: The Georgia Department of Revenue has issued a policy bulletin to announce the interest rate of 6.25%, accruing monthly, which will apply to interest-bearing refunds and past due taxes for the 2021... read more
- Update On PPP Deductibility
*We will be updating this article as we receive more information. December 21, 2020 The House Rules Committee discussed the Senate Amendment to HR 133 (Consolidated Appropriations Act of 2021) today. This Act is well over 5,000 pages and includes... read more
- Update for Tax Practitioners
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As we close out 2020 and prepare for the next “busy season,” there are a number of updates CPAs and tax practitioners need to be aware of. Here are some of the highlights: The Internal Revenue Service (IRS) has released more... read more
- COVID Economic Aid Relief Package Agreed On Dec. 20
*We will be updating this article as we receive more information. December 20, 2020 The much-anticipated official announcement from the United States Congress has finally arrived via an announcement from Senate Majority Leader Mitch McConnell on... read more
- DOR: Notice ADMIN 2020-2 Electronic Signature and Remote Notary Regulation Hearing
The Georgia Department of Revenue has released an email to the public regarding changes to electronic signature and remote notary administrative procedures. The email reads: Administration Rules for e-signatures and remote notarizations are... read more