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So far rmmccpa has created 69 blog entries.

COVID-19 Economic Injury Disaster Loan (EILD) program

You probably would like to see COVID-19 in your rearview mirror and never look back. Unfortunately, while some things have improved, many businesses are still suffering from the effects of COVID-19. Many of the Small Business Administration’s programs designed to help businesses affected by the pandemic, such as Paycheck Protection Program loans and Restaurant [...]

By |2021-10-21T17:16:06-06:00October 21st, 2021|

Congress continues to debate over proposed tax changes

Negotiations continue in Washington, D.C., over the future of President Biden’s agenda. Tax law changes may be ahead under two proposed laws, the Build Back Better Act (BBBA) and the Bipartisan Infrastructure Bill (BIB), also known as the Infrastructure Investment and Jobs Act. The final provisions remain to be seen, but the BBBA and, [...]

By |2021-10-18T09:35:57-06:00October 17th, 2021|

IRS issues ERC guidance as Congress mulls early termination

The IRS has published new guidance on the Employee Retention Credit (ERC). The credit was created in March 2020 to encourage employers to keep their workforces intact during the COVID-19 pandemic. Notice 2021-49 addresses various issues, particularly those related to the extension of the credit through 2021 by the American Rescue Plan Act (ARPA). The [...]

By |2021-11-29T15:23:11-06:00October 6th, 2021|

Disasters and your taxes: What you need to know

Homeowners and businesses across the country have experienced weather-related disasters in recent months. From hurricanes, tornadoes and other severe storms to the wildfires again raging in the West, natural disasters have led to significant losses for a wide swath of taxpayers. If you’re among them, you may qualify for a federal income tax deduction, [...]

By |2021-09-30T20:56:30-06:00October 1st, 2021|

PPP forgiveness and repayment: What businesses need to know now

A critical deadline is approaching for many of the businesses that have received loans under the Paycheck Protection Program (PPP), which was created in March 2020 by the CARES Act. If these borrowers don’t take action before the deadline expires, their loans will become standard loans, and the borrowers could be responsible for repaying [...]

By |2021-07-25T13:45:57-06:00July 25th, 2021|
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