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IRS Provides Additional Flexibility for Health FSAs and Dependent Care Assistance Programs

February 18, 2021 The IRS recently released Notice 2021-15, allowing greater flexibility to employee benefit plans offering health flexible spending arrangements or dependent care assistance programs.

Small Business Administration Announces Changes to PPP Approval Process

February 11, 2021 The U.S. Small Business Administration (SBA) recently announced changes designed to reduce delays in the loan approval process for the Paycheck Protection Program (PPP), which reopened on Jan. 11 with $284 billion in new funding.

UPDATE: IRS Updates FAQs on Paid Sick and Family Leave Credits

February 8, 2021 The IRS recently posted updated FAQs about recent legislation that extended and amended tax relief to certain small- and mid-sized employers under the Families First Coronavirus Response Act.

AICPA Urges the Small Business Administration to Address Small Businesses’ Significant Challenges with PPP Loan Application System

February 5, 2021 The AICPA recently sent a letter to the Small Business Administration (SBA) raising concerns about the challenges small businesses are facing with the current Paycheck Protection Program (PPP) loan application system.

IRS Expands on Deduction Limit Increase for Disaster Relief Corporate Cash Contributions

February 1, 2021 The IRS recently explained how corporations may qualify for the new 100 percent limit for disaster relief contributions and offered a temporary waiver of the recordkeeping requirement for corporations otherwise qualifying for the increased limit.

Employee Retention Credit Extended Through June 30, 2021

January 27, 2021 The IRS urges employers to take advantage of the newly extended employee retention credit, designed to make it easier for businesses that, despite challenges posed by COVID-19, choose to keep their employees on the payroll.

Small Business Administration and Treasury Release Updated PPP Loan Forgiveness Applications, Rules, Calculations

January 20, 2021 The U.S. Small Business Administration and Treasury recently released updated Paycheck Protection Program loan forgiveness applications, rules and calculations.

PPP Reopening Dates Announced

January 14, 2021 The U.S. Small Business Administration and Treasury recently announced that the application window for Paycheck Protection Program forgivable loans will open at 9 a.m. ET on Friday, Jan. 15 for lenders with $1 billion or less in assets.

PPP Reopens for Select Lenders and Borrowers

January 11, 2021 The Paycheck Protection Program (PPP) reopened Monday, Jan. 11 for select lenders and borrowers.

PPP Set to Reopen for Select Lenders and Borrowers

January 8, 2021 The U.S. Small Business Administration and Treasury recently announced the Paycheck Protection Program will reopen Monday, Jan. 11 for select lenders and borrowers.