HSA Amounts Increase for 2023
The IRS recently issued Rev. Proc. 2022-24, announcing that the maximum contribution to a health savings account and certain associated amounts will be higher in 2023 due to inflation-related adjustments.
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SBA Provides COVID EIDL Borrowers Additional Deferment
The U.S. Small Business Administration recently announced that it is providing additional deferment of principal and interest payments for existing COVID Economic Injury Disaster Loan program borrowers for a total of 30 months deferment from loan inception.
View MoreSEC Proposes New Rules for Cybersecurity Reporting by Public Companies
The Securities and Exchange Commission recently proposed amendments to its rules to enhance and standardize disclosures regarding cybersecurity risk management, strategy, governance and incident reporting by public companies.
View MoreReport Shows Decrease in Quality of IRS Employee Benefit Plan Exams
The Treasury Inspector General for Tax Administration recently released a report stating that the IRS unit that checks employee benefit plans for compliance with IRS qualification, reporting and disclosure requirements, and with excise and income tax matters, scored 23 percent lower overall on its quality reviews in fiscal years 2018 through 2020.
View MoreSBA Details Process to Appeal Partial PPP Loan Forgiveness Decisions
The U.S. Small Business Administration recently issued a procedural notice detailing a new process that Paycheck Protection Program borrowers who received partial loan forgiveness can use to appeal their lender's decision.
View MoreIRS Issues Procedures for Employee Status Determinations
The IRS recently issued Rev. Proc. 2022-13 regarding employee status determinations under Sec. 7436.
View MoreReminder: Deferred Social Security Tax Payment Due Jan. 3 for Many Employers and Self-Employed
The IRS is reminding employers and self-employed individuals that chose to defer paying part of their 2020 Social Security tax obligation that a payment is due on Jan. 3, 2022.
View MoreStandard Mileage Rates to Increase in 2022
The IRS recently issued Notice 2022-03, which increases the rate by which taxpayers may compute their deductions for costs of using an automobile for business purposes for the 2022 tax year.
View MoreIRS Issues Guidance Regarding the Retroactive Termination of the Employee Retention Credit
The IRS recently issued guidance for employers regarding the retroactive termination of the Employee Retention Credit.
View MoreSBA Clarifies COVID-19 EIDL Application Deadlines
The U.S. Small Business Administration recently released updated guidance regarding applications for loans, advances and appeal requests with the COVID-19 Economic Injury Disaster Loans program.
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