Under the Coronavirus Aid, Relief and Economic Security (“CARES”) Act, the majority of Americans received Economic Impact Payments commonly referred to as “Stimulus Checks.” In an effort to get these payments out to citizens as quickly as possible, the IRS used prior year tax return data (from the 2019 if it had already been filed,Continue reading “Stimulus Checks for the Dead”
Category Archives: Current Events
CARES Act Tax Provisions – a refresher
The Coronavirus Aid, Relief and Economic Security (“CARES”) Act is widely known for the Paycheck Protection Program (“PPP”) which allowed employers to obtain forgivable loans provided that the proceeds of the loans were used for specified purposes. In addition, the CARES Act also provided substantial economic assistance to individuals and businesses through a number ofContinue reading “CARES Act Tax Provisions – a refresher”
PPP loan extension becomes law.
A hallmark of the Coronavirus Aid, Relief and Economic Security (“CARES”) Act was the creation of the Paycheck Protection Program (PPP) which, in general terms, allowed an employer with fewer than 500 employees to obtain forgivable loans equal to 2.5 times its average monthly payroll costs (capped at $10M) provided the funds were used forContinue reading “PPP loan extension becomes law.”
Taxing Thoughts 