We previously informed you of an opportunity to take an Employee Retention Credit for 2020 (see our blog post from February 22nd). Hopefully, many of you have begun work with your CPAs and payroll companies to get this credit moving along, although there is no rush to process this credit…

The IRS has recently announced that it will be automatically extending the April 15th tax filing deadline to June 15th for all Texas residents due to the state’s weather disaster that left millions without power or water.

Many of you have been asking questions about the Employee Retention Tax Credit (ERC) for 2020. Up to this point, we have been reluctant to issue official firmwide guidance as we have been waiting on the IRS to do the same.

If you received funds under the CARES Act Provider Relief Fund from the Health and Human Services, you are required to comply with certain reporting elements in order to stay in compliance with the program. Anyone who received over $10,000…

Banks will begin accepting applications this week for the second draw of PPP loans for eligible businesses. In many ways, this second round of funding will be very similar to the first.

This year has undoubtedly brought many challenges, but once again, we are given an opportunity to adapt and make the most out of what 2020 has to offer. The COVID Relief Act has officially passed. Here are some of the key details that may affect you…

Congress has finally passed the long-awaited 2nd COVID-19 Relief Bill. We are hopeful that President Trump will make the bill final very soon. I’ve read this is the longest bill in history at a whopping 5,600 pages! As you can imagine, there are many provisions within the bill…

Many of our clients have applied for grants through the CARES Act Provider Relief Fund (PRF). Some received funding in phase 2, and some received funding in phase 3. There are significant changes to the Terms and Conditions for all providers who received funding, no matter what tranche the money was received…

It is that time of the year again! Time to make sure you have crossed all year-end planning items off your list. This year has undoubtedly come with some unique challenges, and with that has come some unique items to your year-end planning list.

As many of you begin gathering information for the completion of your PPP applications, there is a growing conversation about the timing of your application and when it would be best to apply. Based upon our interpretation, it would be best for all applications to be approved in 2020 as opposed to 2021 if possible…

The 2020 year has truly brought everyone many more surprises than anyone wanted. In our last several months meeting with clients, we have seen several common mistakes that unfortunately may bring some additional unwelcome surprises in 2021 when taxes are filed.

The Department of Health and Human Services (HHS) has issued another round of funding under the CARES Act Provider Relief Fund (PRF). Many of you have already applied for and received a payment in the amount of 2% of your 2019 revenues from the fund. This third round of funding opens the application window back up for those that…