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How Will the American Rescue Plan Help America?
By Richard J. Wright, Jr. CPA on March 8, 2021

The Senate has passed the American Rescue Plan legislation intended to help with the continued financial fallout from the coronavirus pandemic. The bill is headed back to the House for...

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Paycheck Protection Program and Employee Retention Credit in 2021? New IRS Guidance May Provide Additional Relief for 2020
By Jonathan Tretter, CPA on March 2, 2021

Would your business be eligible to retroactively claim the Employee Retention Credit (ERC) for parts of 2020, but you have already applied for and been granted full Paycheck Protection...

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Fedline Advantage Hardware and Software Requirements: What You Need to Know
By Bruce Rumbold, CCBCO on February 11, 2021

The Federal Reserve announced several changes/requirements to enhance security over its payment and settlement platforms. Many of these requirements are very technical so we will try to...

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CFPB Provides Exemptions to the HPLM Escrow Rules
By Bruce Rumbold, CCBCO on January 28, 2021

The Consumer Financial Protection Bureau (CFPB) is providing additional relief to financial institutions. On January 19, 2021, the CFPB issued a final rule amending the Bureau’s 2013...

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Qualified Opportunity Fund Investments: IRS Provides Additional Relief
By Don Warrant, CPA on January 25, 2021

On January 20, 2021, the IRS released Notice 2021-10 to provide additional relief to Qualified Opportunity Funds (“QOF”) and their investors in response to the ongoing COVID-19 pandemic....

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SBA Issues Updated Interim Final Rules on PPP Loan Forgiveness and PPP Loan Forgiveness Applications
By Jonathan Tretter, CPA on January 20, 2021

Late Tuesday night (1/19/21), the SBA published an “Interim Final Rule on Loan Forgiveness Requirements and Loan Review Procedures as Amended by the Economic Aid Act”. In addition, they...

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