Deploying precision government accounting systems
The Paycheck Protection Program was the centerpiece of the CARES Act, providing loans to businesses of up to $10M. Compliance with this meant that loads did not have to be paid back. Also, there is no forgiveness of debt income when a loan is forgiven, something that normally is a standard tax result from a …
IRS Issues Guidance On Disallowance Of Deductions For ForgivenessRead More
Due to the economic impact, the Coronavirus (COVID-19) has on small business owners, Treasury Secretary Steven Mnuchin has announced that individual taxpayers who owe up to a million dollars in federal taxes can defer paying until July 15. If you have already scheduled a direct debit for your tax payment, follow the instructions below to …
