SBA Formally Withdraws Loan Necessity Questionnaire
(authored by RSM US LLP) Small Business Administration, in light of lawsuit, notifies PPP lenders that loan necessity questionnaire is withdrawn....
15 July, 2021
PPP Loan Tag
IRS Issues PPP Expense Deduction Safe Harbor for Fiscal Year Taxpayers
(authored by RSM US LLP) IRS safe harbor for fiscal year taxpayers on accounting period in which to deduct PPP expenses provides choices and certainty....
27 April, 2021
PPP Extension to May 31
(authored by RSM US LLP) PPP extension clears Senate. Program to be extended to May 31, with 30 days provided after May 31 for SBA to process pending applications....
25 March, 2021
Restaurant Revitalization Fund
Authored by The National Restaurant AssociationRESTAURANT REVITALIZATION FUNDThe American Rescue Plan Act establishes a $25 billion “Restaurant Revitalization Fund” (RRF) within the U.S. Small Business Administration (SBA).Grants: An...
22 March, 2021
Accounting Considerations for PPP Loans and Employee Retention Credit
(authored by RSM US LLP) Our white papers have been updated with more information regarding the accounting for PPP loans and the Employee Retention Credit....
18 March, 2021
American Rescue Plan Act Provisions Affecting Exempt Organizations
(authored by RSM US LLP) The American Rescue Plan Act of 2021 extends and expands support for exempt organizations affected by the coronavirus pandemic....
17 March, 2021
9 Important Tax Topics for Individuals and Business Owners in 2021
(authored by RSM US LLP) Managing significant tax changes will ensure individuals and businesses are positioned for success for the remainder of 2021 and beyond....
17 March, 2021
How to Calculate and Claim ERC
The Employee Retention Credit (ERC) was introduced in March 2020 as part of the CARES Act. The ERC is a refundable payroll tax credit against employee wages designed to make...
11 March, 2021