April 15th Deadline Postponement Details | PPP Extension Passes

April 15th Deadline Postponement Details The IRS has provided additional details regarding the April 15th tax deadline postponement. Read a summary from the AICPA here.   PPP Extension Passes Also the House and Senate have passed and President Biden has signed an...

American Rescue Plan Act Passed by Congress

The American Rescue Plan Act was passed by Congress on March 10, 2021 and was signed by President Biden on March 11, 2021. Read a summary of some of the tax changes in the Act in this article from the AICPA here.

Schedule C Filers can now apply for PPP based on Gross Income

Based on new rules from the Small Business Administration (SBA), self-employed individuals who file a Schedule C can now calculate their PPP funds eligibility based on gross income (Schedule C line 7) instead of using net profit (Schedule C line 31). This change is...

Unexpected Ohio Unemployment 1099-G Forms Received

We are hearing from some of our clients that have received a 1099-G form for 2020 from Ohio Department of Job & Family Services (ODJFS) showing amounts in Box 1 “Unemployment Compensation” when they did not apply for unemployment in 2020. ODJFS is...