IRS Information on a Few Tax Topics

The IRS has released some information a few tax topics that we wanted to share with you: According to a recent IRS Fact Sheet, "The American Rescue Plan Act of 2021 (ARP) allows small and midsize employers, and certain governmental employers, to claim refundable tax...

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SBA Grant Opportunities

The Small Business Administration has some updates on 2 programs that are in place to help certain businesses weather the affects of the COVID pandemic. The Shuttered Venue Operators Grant (SVOG) program opened for applications on Monday April 26, 2021. This grant is...

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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.

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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...

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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 aware of this...

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BRSW Information Updates from Recent Tax Law Change

We would like to share letters with you that contain information on Individual, Business, and PPP Updates after the recent tax law update at the end of December 2020. To read the letters, click on the links below: BRSW Business Tax Update December 2020 BRSW Individual...

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