Additional FAQs were posted by the Treasury Department concerning the Paycheck Protection Program late Monday evening, April 6, 2020. You can read the article by the Journal of Accountancy here. As a result of the revised guidance we have changed our PPP worksheet to show the 100,000 limit as only applying to W2 wages- box […]
After the initial announcement of the economic impact payments, the IRS stated that Social Security recipients would need to file a simple return to receive their recovery rebate. However, the Treasury Department announced in a press release on April 1, 2020 that Social Security recipients would receive their economic impact payment automatically without a requirement
Social Security Recipients Do Not Need to File to Receive Economic Impact Payments Read More »
We have created a Paycheck Protection Program (PPP) summary sheet which gives key provisions of this new program. Read our summary sheet here. We have also created a PPP loan calculation sheet to help you calculate the amount of loan you would be eligible for depending on your situation. To see our PPP calculation sheet,
Paycheck Protection Program – Additional Information Read More »
The IRS released some new questions and answers information regarding paid sick, medical, and family leave. Please see the link below for this information. One important update we want to point out is covered in Question 6 in the link. Employees’ checks should have FICA and Medicare withholding. Employers should match the Medicare that they
There are some changes coming related to unemployment benefits for independent contractors and self employed individuals.
Unemployment Updates for Independent Contractors Read More »
During this time that we find ourselves in, the IRS is warning about coronavirus-related scams. Read more here. Some highlights from the IRS News Release: The IRS isn’t going to call you asking to verify or provide your financial information so you can get an economic impact payment or your refund faster, Don’t open surprise
The DOL has posted the following FAQ regarding the Families First Coronavirus Response Act.
A new law was recently put into place called the Coronavirus Aid, Relief and Economic Security Act (CARES Act). The CARES Act has both personal and business tax provisions that will affect our clients. Click the link below to read our summary of the CARES Act. BRSW Summary: Coronavirus Aid, Relief and Economic Security
Coronavirus Aid, Relief and Economic Security Act (CARES Act) Summary Read More »
One of our staff members at the Van Wert location has tested positive for COVID-19.
