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covid-19

Stories tagged as "covid-19"

American Rescue Plan Act Offers Debt Relief to Some Socially Disadvantaged Ag Borrowers

Jun 3, 2021, 9:13 AM

Under the debt relief provision of the American Rescue Plan Act, producers with eligible indebtedness as of Jan. 1, 2021, qualify for debt relief. The debt relief will be taxable income, but the funding provides up to 20% cash to help cover the tax on the debt relief.

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New Guidance on Food and Beverage Deductions for Businesses

May 4, 2021, 4:28 AM

Through the end of 2021, businesses can claim 100% of their food or beverage expenses paid to restaurants.

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Update: Restaurant Revitalization Fund Aims to Help Restaurants and Bars Recoup 2020 Losses

Apr 7, 2021, 5:01 AM

The Restaurant Revitalization Fund has $28.6 billion to help food and beverage businesses recover pandemic-related losses. As of right now, there’s no official launch date for the program. Those who are interested in applying should watch the SBA’s COVID-19 relief options web portal.

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Changes to COBRA Coverage Coming April 1

Mar 26, 2021, 10:22 AM

From April 1-Sept. 20, 2021, the government will subsidize 100% of COBRA coverage premiums as part of the American Rescue Plan Act.

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It’s Time to Start Taking Your Required Minimum Distributions Again

Mar 22, 2021, 2:42 AM

RMDs were suspended in 2020 in response to COVID-19. But it's 2021, so you need to start taking them again.

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What the Newest COVID-19 Stimulus Package Means for Your Taxes

Mar 11, 2021, 8:59 AM

The recently passed $1.9 trillion stimulus package has some far-reaching tax implications for the short and long term. Here are some of the highlights from the American Rescue Plan Act of 2021 that might affect your taxes.

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Businesses, Nonprofits with Fewer Than 20 Employees Have Access to Two-Week PPP

Feb 24, 2021, 4:04 AM

Mom-and-pop businesses and small nonprofits have exclusive access to the Paycheck Protection Program from Feb. 24-March 9.

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IRS OKs Tax Credit for Unforgiven PPP Loans

Jan 26, 2021, 7:18 AM

If your business didn’t receive forgiveness for your Paycheck Protection Program loan, you now have the option to claim the Employee Retention Credit instead.

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SBA Releases New Simplified PPP Form for Smaller Loans

Jan 21, 2021, 3:30 PM

The SBA released their newest version of the simplified loan forgiveness form for PPP borrowers. This new version is for borrowers with loans of $150,000 or less.

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Understanding Deferring Employee Payroll Taxes

Jan 21, 2021, 11:00 AM

The IRS recently released new guidance about how employers who deferred payroll for their employees can withhold and pay those taxes throughout 2021, instead of within the first four months of the year.

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