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Learn MoreOn April 9, 2020, the Treasury released Notice 2020-23, further expanding the tax filing and payment relief previously provided to taxpayers in Notices 2020-18 and Notice 2020-20. The most discussed portion of Notice 2020-23 may be the postponement of estimated tax payments due on or after April...
Read More** This blog was updated on 6/8/20 as a result of new guidance from the Federal Reserve and the Treasury ** On April 9, 2020, the Federal Reserve introduced the Main Street Lending Program, aimed at providing expanded relief for small and medium sized businesses as part of the CARES Act. This new...
Read MoreCOVID-19 is extending beyond the health arena into every aspect of our work and personal lives. It’s safe to say that everybody’s lives have been dramatically affected. As businesses scramble to reevaluate their strategies for the rest of the year, U.S. regulatory agencies are looking into ways to...
Read MoreIn light of the COVID-19 pandemic, nearly every state is offering tax return filing and payment deferrals. In addition, federal, state and local authorities are offering business and their employees numerous assistance measures, including employee retention and loan/financial assistance programs,...
Read MoreRead "CARES Act Offers 14 Areas of Potential Tax Relief for Taxpayers" While the Paycheck Protection Program included in the CARES Act is geared toward loan forgiveness for small businesses, there are also alternative standards that may allow companies with more than 500 eligible employees to...
Read MoreA business continuity plan is a critical part of your SOC 2 preparation and risk management program. It’s so critical in fact that one of the SOC compliance requirements is to perform a “tabletop exercise” to test, at least annually, your business continuity plan in the event of a...
Read MoreThe coronavirus (COVID-19) pandemic has rightly become the focus of massive public attention in recent weeks. In addition to concerns about the health of their workers, businesses are increasingly concerned about how it will affect their financial results and the performance of their supply chain...
Read MoreIn an effort to provide employers with additional liquidity, IRS Notice 2020-22 relieves certain employers from penalties associated with not depositing employment taxes — allowing them to retain cash that otherwise would have been used for withheld income taxes, FICA taxes and railroad retirement...
Read MoreOn March 27, 2020, President Trump signed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) providing significant relief to those impacted by the pandemic. Below is a summary of the major tax provisions within the Act. 1. SBA 7(a) Forgivable Loan Expanded (Payroll Protection...
Read More** This blog was updated on 4/16/20 to reflect May IRS minimum interest rates ** Prior to a few weeks ago, the economy was humming along for most industry sectors; businesses were growing revenue and earnings; and market multiples were strong. Due to the global COVID-19 pandemic, the past few...
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