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Accounting,
1 min read
Senate Infrastructure Bill to Get Funds by Ending Employee Retention Credit Early
CNBC reported that the bill, which outlines about a trillion dollars in new spending, is roughly 2,700 pages long and is intended by Democratic leadership to be passed alongside the…
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Accounting,
1 min read
To Enable More Vaccinations, Treasury Expands Paid Leave Tax Credit
The Treasury Department and the Internal Revenue Service announced that eligible employers can claim tax credits equal to the wages paid for providing paid time-off to employees to take a…
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Accounting,
1 min read
Introduction of a COVID Revenue Reduction Score
To streamline forgiveness of second-draw PPP Loans of $150,000 or less where the borrower did not submit documentation of revenue reduction at the time of the loan application, the SBA…
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Accounting,
1 min read
SBA Planning to Ease PPP Forgiveness Process for Most Loans
Currently, the bank holding your Paycheck Protection Program (PPP) is the sole avenue for requesting forgiveness. However, this week the SBA plans to outline a new initiative aimed at encouraging…
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Accounting,
1 min read
The American Rescue Plan Extends COVID Tax Credit for Employers
Many employers are not aware that they may be eligible for additional payroll assistance under the American Rescue Plan (ARP) signed into law by President Biden on March 11th, 2021. …
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Accounting,
1 min read
What Is the Employee Retention Tax Credit?
The Employee Retention Tax Credit (ERTC) represents, for many, the single largest small business stimulus in US history behind PPP loans. However, because PPP loans understandably got all the attention…
