Taxes
Report Simplifies Paycheck Protection Program Loan Application Process for 250,000 Businesses and Counting
Paycheck Protection loans, which are provided through SBA-approved lenders, are available to small business borrowers to cover payroll and other operating costs. Included among the application requirements is specific documentation related to payroll.
PPP Applicants Should Use Gross Payroll Approach in Calculations, Says AICPA
For the calculation of the Average Monthly Payroll cost under the Paycheck Protection Program (PPP), the Gross Payroll approach should be used for the application, according to the recommendation from the AICPA-led small business funding coalition.
$2 Trillion Coronavirus Stimulus Bill Passes, Back to House
Republicans and Democrats reached a hard-won agreement on the Senate’s $2 trillion worth of fiscal stimulus to shore up an economy crippled by the coronavirus pandemic. The final version was the product of intense negotiations between Senate Democratic leader Chuck Schumer and Treasury Secretary Steven Mnuchin. With the measure clearing the Senate, House Speaker Nancy […]
AICPA Asks IRS to Provide More “Extensive Relief” to Taxpayers
Specifically, the AICPA urges the Treasury Department and IRS to consider the following recommendations, which will provide relief to millions of individuals and businesses affected by a broad array of coronavirus-related issues:
Income Tax Deadline Moved to July 15, 2020
On Saturday morning, the Treasury Department and Internal Revenue Service followed up with an official press release that the federal income tax filing due date is automatically extended from April 15, 2020, to July 15, 2020.
IRS Extends Tax Payment Deadline — What You Can Do Now
Facing pressure from lawmakers and the tax community, on Tuesday, March 17, Treasury Secretary Mnuchin announced that the agency is giving taxpayers an additional 90 days to pay for those owing up to $1 million in taxes ...
2020 Tax Season Payment Deadline Extended to July 15 as Nation Fights Coronavirus – IRS News
Taxpayers and businesses will have until July 15, 2020 to pay their taxes this year, but the filing deadline is still April 15, for now. The change was announced on Tuesday afternoon, by Treasury Secretary Steven Mnuchin ...
Tax Deadline Alert: Forms W2, W3, 1099-Misc Due by Jan. 31, 2020
With just a few days remaining until the deadline, the Internal Revenue Service reminds employers and other businesses that Jan. 31 is the filing deadline for submitting wage statements and forms for independent contractors with the government.