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Category: Accounting & Auditing

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Expansion and Extension of Employee Retention Credit

Expansion and Extension of Employee Retention Credit The Consolidated Appropriations Act of 2021 passed by Congress in late December 2020 expands and extends the employee retention credit enacted to

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COVID-19 Relief Bill

COVID-19 Relief Bill The bill includes another round of direct stimulus payments and more relief for businesses impacted by COVID-19. The bill also clarifies that

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Will Expenses Paid with PPP Loans be deductible?

On November 18, the U.S. Treasury Department and Internal Revenue Service (IRS) released guidance for businesses that received Paycheck Protection Program (PPP) loans regarding deductibility of expenses

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PPP Updates

Earlier this week, the Small Business Administration (SBA) released a new Frequently Asked Questions (FAQs) document on PPP Loan Forgiveness. PPP Loan Forgiveness FAQ’s Please

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AICPA Releases PPP Q&A for Lenders

The American Institute of CPA’s (AICPA) released Technical Questions and Answers (TQA) on June 30 to address common accounting issues for Paycheck Protection Program (PPP)

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COVID-19 Relief Update

The Small Business Administration (SBA) has recently released updates regarding the Economic Injury Disaster Loan (EIDL) and Paycheck Protection Program (PPP). See the links below

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CARES Act

Congress has passed a $2.2 trillion stimulus package to support the economy during the virus pandemic.  The President has indicated that the bill will be