Banks have started to announce their plans for accepting PPP Forgiveness requests in the coming weeks and, in preparation, have laid out a series of important tasks for you to complete ahead of the process.
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COVID-19: Banks Share Preparedness Updates for PPP Loan Forgiveness | Caroprese & Company
In February 2020, Congress enacted the Small Business Reorganization Act of 2019, creating a new subchapter (Subchapter V) of Chapter 11 of the Bankruptcy Code. The new Act aims to make small business bankruptcies faster and less expensive – and therefore, more attainable – for small businesses in financial trouble.
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Bankruptcy Reorganization Act Opens Up New Opportunities for Small Businesses | Caroprese & Company
The Small Business Administration, in conjunction with the U.S. Treasury Department, has published a list of FAQs to provide guidance on the forgiveness process for Paycheck Protect Program (PPP) loans.
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COVID-19: SBA Releases New PPP Loan Forgiveness FAQs | Caroprese & Company
On July 4, 2020, President Trump signed a bill (S.4116) into law that extends the PPP loan application deadline from June 30 to August 8, 2020.
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COVID-19: President Trump extends PPP loan application deadline | Caroprese & Company
By signing the Paycheck Protection Flexibility Act of 2020, President Trump has passed into law provisions related to the forgiveness of loans made under the PPP that are more favorable for businesses. Feel free to contact us for more information!
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COVID-19: President Trump Signs PPP Flexibility Act | Caroprese & Company
New York Senate bill S.8386, introduced on May 21, 2020, would provide relief to businesses whose employees are working from home outside of New York State due to COVID-19 by confirming that such telework is due to the necessity of the employer and not the convenience of the employee and is exempt from New York income tax and income tax withholding.
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COVID-19: NY State Senate bill would treat income earned working from home outside NY as exempt | Caroprese & Company
Joe Biden, who has been projected as the winner of the Presidential election by the Associated Press and others, pledged during his campaign to implement policy initiatives on infrastructure and manufacturing, healthcare, and the environment, and to pay for them with increased taxes.
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Joe Biden Is President-Elect: What's Next for US Tax and Trade Policy? | Caroprese & Company
With the influx of new and younger residents migrating to the state, and the inflow of hedge funds and private equity firms in recent years, South Florida is on its way to becoming a financial hub — as it also strengthens its position as the gateway to Latin America.
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Changing State Residency: Tax Considerations When Moving to Florida | Caroprese & Company
The IRS recently issued guidance relating to the tax treatment of Paycheck Protection Program (PPP) loan forgiveness.
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IRS Issues Guidance for Tax Treatment of PPP Loans | Caroprese & Company
The United States Treasury Department and Internal Revenue Service announced on Wednesday, March 17, that the federal income tax filing due date for individuals for the 2020 tax year will be automatically extended from April 15, 2021, to May 17, 2021. The IRS will be providing formal guidance in the coming days.
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IRS extends tax filing deadline for individuals to May 17 | Caroprese & Company
