by Heimlantz | Aug 11, 2020 | Covid-19
Over the weekend, President Trump issued a series of executive actions. Three of the four memos aim at extending CARES Act provisions that have expired already or will expire soon. The fourth seeks to mimic the payroll tax holiday for which the President has been...
by Heimlantz | Aug 5, 2020 | Covid-19
The Internal Revenue Service (IRS) recently announced finalized guidance regarding business interest expense limitations. In a helpful article from the Journal of Accountancy, author Sally Schreiber offers an overview of the new rules. Background The business interest...
by Heimlantz | Jul 6, 2020 | Covid-19, Uncategorized
On Wednesday, July 1, the House agreed unanimously to an extension of the Paycheck Protection Program (PPP). The five-week extension originated in the Senate on Tuesday, where it was approved late in the evening. President Trump signed the bill into law on Saturday,...
by Heimlantz | Jun 26, 2020 | Covid-19
On June 22, the U.S. Small Business Administration (SBA) released additional guidance regarding Paycheck Protection Program (PPP) loan forgiveness. A recent article from the Journal of Accountancy summarizes the information contained in the release. The new interim...
by Heimlantz | Jun 4, 2020 | Covid-19, Professional Firms
On Wednesday night, the Senate voted unanimously in favor of the Paycheck Protection Flexibility Act. This new legislation makes key adjustments to the timeline for spending Paycheck Protection Program (PPP) funds and revises how loan recipients are required to...
by Heimlantz | May 28, 2020 | Covid-19, Professional Firms
On May 22, the Small Business Administration (SBA), in conjunction with the U.S. Treasury, released additional guidance for recipients of loans through the Paycheck Protection Program (PPP). A recent article from the Journal of Accountancy examines the details of the...
