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Significant Tax Provisions from Biden’s American Rescue Plan Act
Richard A. Huffman, CPA, MST
Tax Partner
The American Rescue Plan Act signed into law by President Biden includes the following significant tax provisions:
Business tax provisions:
Family and sick leave credits –…

CA Lawmakers Reach COVID Relief Deal Including Partial PPP Conformity
Richard A. Huffman, CPA, MST
Tax Partner
The long awaited recently announced California pandemic relief package includes the following benefit highlights for businesses and individuals:
California partial conformity…

New COVID Relief Bill Expanded Employee Retention Credit Benefits
Richard A. Huffman, CPA, MST
Tax Partner
The recently enacted stimulus law expands and clarifies the CARES Act Employee Retention Credit (ERTC), key details are as follows:
Beginning on January 1, 2021 and through June…

New COVID Relief Bill Signed Into Law
Richard A. Huffman, CPA, MST
Tax Partner
The House and Senate passed the Consolidated Appropriations Act, 2021 (CAA, 2021) which is expected to be signed into law by the President.
The CAA, 2021 bill includes the renewal…

PPP Loan Forgiveness Taxability in 2020
Richard A. Huffman, CPA, MST
Tax Partner
Tony Maldonado, CPA
Tax Senior
While the current law states forgiven Paycheck Protection Program (PPP) loans are tax-free, the Internal Revenue Service previously issued guidance…

SBA Releases PPP Flexibility Act Guidance and Revised Forgiveness Application Form
Richard A. Huffman, CPA, MST
Tax Partner
The Small Business Administration has released additional Paycheck Protection Program (PPP) guidance and revised the forgiveness application form to align with the Paycheck Protection Program…

BREAKING NEWS: Significant Taxpayer Friendly Changes to the Paycheck Protection Program
Richard A. Huffman, CPA, MST
Tax Partner
The Senate just passed the House bill, called the Paycheck Protection Flexibility Act which is expected to be signed into law by the president. The law will extend the Paycheck Protection Program…

Non-Deductibility of PPP Related Expenses to the Extent of Forgiven PPP Funds (IRS Notice 2020-32)
Janet Kim, CPA, MST
Tax Director
The IRS released Notice 2020-32 on April 30, 2020, which provides guidance on the deductibility of expenses paid with Paycheck Protection Program (PPP) loan proceeds that are forgiven and excluded…

Summary Analysis of Coronavirus Enacted Laws
Richard A. Huffman, CPA, MST
Tax Partner
With the recently enacted laws to help companies with the current Coronavirus pandemic, there has been confusion regarding which benefit programs will apply to what companies.
In our…