SBA provides safe harbor for PPP loans under $2 million

Businesses that together with their affiliates accepted Paycheck Protection Program (PPP) funds of less than $2 million will be assumed to have...

Paycheck Protection Program FAQs as of May 13, 2020

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The Small Business Administration (SBA), in consultation with the Department of the Treasury have updated their FAQs as of May 13, 2020....

How to Advise Struggling Business Clients

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Now is the time for advisory services and helping clients navigate the economic crisis. When the tax year 2019 filing deadline was postponed...

Discount on Presentation Folders for Tax Practice News Readers

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Tax Practice News is working with TaxFormSource.com to get you some of the best pricing available on presentation folders and envelopes for...

Highlights of the Paid Sick Leave Credit and Family Leave Credit

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What is the paid sick leave credit?  The Paid Sick Leave Credit is designed to allow businesses to get a credit for an...

Live with Liz + Will: PPP and EIDL Updates

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On Friday, May 8 (2020), Liz Mason and Will Lopez (Head of Accountant Community at Gusto) went live on the Tax Practice...

Highlights of the Employee Retention Credit

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What is it? The Employee Retention Credit is a fully refundable tax credit equal to 50% of qualified wages that Eligible Employers...

Live with Liz + Will: New Notice, IFR and Forgiveness Reporting

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On May 1, 2020, TPN Editor Liz Mason and Will Lopez, Gusto's Head of Accountant Community took to Facebook Live to discuss...

Common Form 7200 Errors

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The IRS has issued a list of common errors seen in filings that tax preparers should avoid when preparing Form 7200, Advance Payment...

Coronavirus Response Act Labor Law Poster Requirement

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It is no surprise that COVID-19 has impacted businesses across America in ways never seen before.  Businesses have pivoted in response to...

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Paycheck Protection Program Flexibility Act – Passed by the House

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Earlier today the House of Representatives passed H.R.7010 - Paycheck Protection Program Flexibility Act of 2020 that would favor many small business owners. This bill is now sitting on the Senate to vote on and move forward.

How to “Cloud Accounting” for Tax: The Template for Change Management

In the last article, I address the three pillars of change management. Please read that here. Once you have a good, fundamental...

IRS announces Form 1040-X electronic filing options coming this summer; major milestone reached for...

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The Internal Revenue Service announced today, May 28, that later this summer taxpayers will for the first time be able to...