Additional COVID Relief Explained

You could soon see, or already have, another stimulus payment in your bank account with the recent passage of the Emergency Coronavirus Relief Act of 2020, which means more direct relief to you and your family. Here are some of the major points you need to know that are buried inside this $900 billion piece…

IRS urges employers to choose carefully when selecting a payroll service provider

Using a reputable firm or group can protect employers from fraud; options include PSPs, RAs and CPEOs WASHINGTON — The IRS reminded employers today to carefully choose their payroll service providers following continuing concerns that some disreputable organizations can fail to deposit employment taxes, leaving businesses vulnerable to unpaid bills. Many employers outsource their payroll and…

PPP Loan Forgiveness Applications Can Be Submitted Starting August 10

The Small Business Administration (SBA) will tentatively begin accepting forgiveness applications for Paycheck Protection Program (PPP) loans starting August 10. The date is tentative because as of this article’s publication date, Congress was considering legislation that could make various changes to the current PPP loan program. Here is what you need to do to apply…

PPP Loan Forgiveness Made Easier by Congress

Small businesses given more time and flexibility to use loan proceeds PPP loan forgiveness just got a lot easier thanks to the “Paycheck Protection Flexibility Act” passed by Congress. This new law gives businesses more flexibility to use the popular PPP loan. This new flexibility will in turn result in an easier time qualifying for…

Time to Build Your Case For Loan Forgiveness

Initial loan forgiveness application now available It’s now time to build you case to ask for loan forgiveness if your business received a loan from the Small Business Administration (SBA) Payroll Protection Program (PPP). That’s because there is now guidance on filling out the new Loan Forgiveness Application. Background Around three quarters of small businesses…

New laws provide tax relief during COVID-19 pandemic

What you need to know! Numerous new laws to address the coronavirus pandemic are now in the books and the IRS is providing guidance for navigating these new rules. Included here is a round-up of tax-related laws and updates for 2019 and information to help with tax planning for 2020. Tax Deadlines Move from April…

Keefe McCullough COVID-19 Update to Clients and Friends

Dear Clients and Friends,  Given recent updates and CDC guidelines related to COVID-19, we want to update you on the steps we are taking to protect the health and safety of our people, clients, families, and communities. Effective today, Tuesday, March 17, we are strongly encouraging our people to work remotely until further notice. Rest assured,…