Tag: CARES Act
Businesses with PPP Loans Now Eligible for Payroll Tax Deferral
President Trump has signed into law the Paycheck Protection Program Flexibility Act, which makes a number of positive changes to the Payroll Protection Program (PPP). Among these changes, business owners who take out a PPP loan and have that loan forgiven are now eligible to delay their payroll tax payments.
Employee Retention Tax Credit: What You Need to Know
The IRS has released an extensive FAQ clarifying many early questions about when the employee retention tax credit can be claimed. The tax credit is designed to support eligible employers whose businesses are disrupted due to COVID-19 and was included in the CARES Act that was recently enacted into law.
IRS App to Speed Delivery of $1,200 Relief Payments, Creates Tools for Non-Filers
This week, the Internal Revenue Service (IRS) will release a free app, “Get My Payment,” which will be available through its website at IRS.gov. This app will allow taxpayers who filed their tax return in 2018 or 2019 but did not provide their banking information on their return to submit direct deposit information.
FAQs for Those Seeking Small Business Loans Under New Stimulus Law
NAHB has put together FAQs for small business owners, self-employed individuals, sole proprietors, and 501(c)(3) organizations who are interested in obtaining small business loans under the newly-enacted CARES Act.
Congress Approves $2.2 Trillion Economic Stimulus Package
Congress has approved a $2.2 trillion economic stimulus package in response to the coronavirus pandemic that has wreaked havoc on the U.S. economy. The CARES Act includes several provisions to help small businesses and those engaged in the residential construction sector.
