The FDIC has approved an interim final rule to provide temporary relief from the Part 363 Audit and Reporting requirements for financial institutions that have experienced temporary growth due to participation in a variety of federal stimulus activities.
The SBA and U.S. Treasury Department have issued a streamlined loan forgiveness application for businesses with Paycheck Protection Program loans of $50,000 or less. The measure further simplifies the loan forgiveness process.
As the United States heads into the final weeks of the presidential election race, taxes will be a popular talking point. Here is a look at the plans from both candidates.
If your child has been awarded a scholarship, congratulations! But be aware that there may be tax implications. Scholarships and fellowships are generally tax-free, but certain conditions must be met.
After paying into Social Security for all your working years, you may be surprised to learn that the benefits may be taxed in retirement. Here are the rules.
Are you self-employed and operate your business from home or perform certain functions at home that are related to your business? You might be able to claim home office deductions on your tax return.
The SBA has published a new interim final rule related to the Paycheck Protection Program created by the Coronavirus Aid, Relief, and Economic Security Act. The IFR addresses treatment of certain owner-employees and limitations on eligibility of certain non-payroll costs for loan forgiveness.
The Internal Revenue Service has issued guidance to help businesses implement the Presidential Memorandum issued August 8. The order allows employers to defer withholding and payment of the employee’s portion of the Social Security tax if the employee’s wages are below a certain amount, but it left questions and concerns when it was announced.
Using an executive action, President Trump has deferred payroll taxes from Sept. 1 through the end of 2020. But there are many unanswered questions.
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