In a surprising announcement, New York State has provided updated guidance that they will now conform and adopt the federal rule contained within the CARES ACT and not tax forgivable PPP...
Continue ReadingWe have implemented a phased approach for returning to our offices that allows us to modify our approach to service delivery as situations change without any service disruptions. In the meantime and in the interest of public health and the safety of our community, our teams will continue working remotely whenever possible to provide the same high-quality service you have come to expect. Utilizing state-of-the-art technology, we are committed to meeting all of your assurance, tax, and advisory needs to help you navigate a business environment filled with challenges and opportunities. To discuss a specific need that can’t be handled remotely, please contact your Freed Maxick representative directly.
In a surprising announcement, New York State has provided updated guidance that they will now conform and adopt the federal rule contained within the CARES ACT and not tax forgivable PPP...
Continue ReadingHere is what we know about the PPP reopening: PPP Round 1 loans will reopen to those businesses that have not yet received a PPP loan on Monday, January 11. For the first 2 days, the SBA...
Continue ReadingFinally, and not a minute too soon, Congress appears to have come to their collective senses and provided businesses with the critical correction to the CARES Act, with the New Stimulus...
Continue ReadingOn November 18th the IRS issued Revenue Ruling 2020-27 and Revenue Procedure 2020-51, clarifying their position regarding the deductibility of expenses paid with Paycheck Protection Program...
Continue ReadingIt appears that The Small Business Administration (SBA) is developing or has developed a new Paycheck Protection Program (PPP) questionnaire - although they have not officially commented...
Continue ReadingThe US Treasury issued Notice 2020-65, providing some level of guidance with respect to the payroll tax holiday memo signed by the President on August 8, 2020. Unfortunately, if you were...
Continue Reading