Author: Ali Carbo

IRS Issues Employee Retention Credit Guidance for 2020

March 18, 2021 by Ali Carbo
Copeland Buhl
The Employee Retention Credit (ERC) became more relevant for many employers with the passage of recent tax laws.  The credit is now eligible for Paycheck Protection Program (PPP) borrowers and the credit extends through December 2021. The IRS recently issued guidance on the 2020 credit, such as eligibility requirements and...
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New Law: Paycheck Protection Program Flexibility Act

June 5, 2020 by Ali Carbo
Copeland Buhl
President Trump signed into law today the Paycheck Protection Program Flexibility Act, which addresses many concerns expressed by the business community.  The Small Business Administration will need to update their guidance, but here are the highlights: Businesses have 24 weeks to spend the funds instead of 8 weeks to be...
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Deferral of Employer Social Security Tax Payments

April 21, 2020 by Ali Carbo
Tax Services
The CARES Act includes a provision allowing employers and the self-employed to defer a portion of social security tax payments for the remainder of 2020.  Employers All employers are eligible to defer payment of the employer portion of social security taxes on wages paid from March 27, 2020 through December...
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