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Topic: Covid 19

CFPB Rescinds COVID Regulatory Relief Policy Statements
By Bruce Rumbold, CCBCO on April 1, 2021

Effective today, the Consumer Financial Protection Bureau (CFPB) rescinded regulatory relief that was granted March through June 2020 mostly around consumer compliance and reporting...

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The American Rescue Plan Extends Relief Through 2021
By Richard J. Wright, Jr. CPA on March 16, 2021

President Biden signed the $1.9 trillion American Rescue Plan Act of 2021 (ARP) on March 11, 2021. The ARP provides relief funding to families and individuals, state and local governments,...

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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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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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