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So far rmmccpa has created 72 blog entries.

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|

SBA Loan necessity questionnaire may be going away soon

SBA's loan necessity questionnaire for PPP loan forgiveness applicants may be going away soon.  They are currently evaluating this and we believe SBA will be making a formal announcement about this in their frequently asked questions section. Nearly 71% of PPP loans have not applied for debt forgiveness.  One main reason is caused by [...]

By |2021-06-28T07:22:27-06:00June 26th, 2021|
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