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Good News for MA Pass-throughs Regarding Taxability of Forgiven PPP Loan Proceeds

On January 21, we wrote to you regarding the treatment of forgiven Paycheck Protection Program (PPP) loan proceeds for Massachusetts […]

Posted By Tonneson
In Business Tax, COVID-19 Updates, Individual Tax
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March 11, 2021Posted By Tonneson

American Rescue Plan Act Signed Into Law

The American Rescue Plan Act (ARPA) was signed by President Biden on March 11. The tax provisions in the new […]

March 1, 2021Posted By Tonneson

American Rescue Plan Act passed by the House

On Saturday, February 27, the House passed the $1.9 Trillion American Rescue Plan Act (ARPA) of 2021 (H.R. 1319) which […]

January 14, 2021Posted By Tonneson

SBA Opens Applications to More Lenders on Friday and Monday

The Small Business Administration (SBA) has announced that lenders with $1 billion or less in assets can start making Paycheck […]

January 7, 2021Posted By Tonneson

What’s New for PPP Loans under the CAA

On December 27, President Trump signed the Consolidated Appropriations Act (CAA) which was in part enacted to further assist small […]

December 22, 2020Posted By Tonneson

More on the Consolidated Appropriations Act 2021

Earlier today we reported that the Consolidated Appropriations Act 2021, H.R. 133 was passed by Congress and is awaiting the […]

December 22, 2020Posted By Tonneson

Consolidated Appropriations Act – New PPP Provisions

Last night, both the House and the Senate voted to pass the Consolidated Appropriations Act 2021, which President Trump is […]

December 21, 2020Posted By Tonneson

$900 Billion Stimulus Package Includes PPP Expense Deductibility and Other Important Provisions

On Sunday evening, Congressional leaders tentatively agreed on a $900 Billion stimulus package for US taxpayers and businesses. The House […]

December 14, 2020Posted By Tonneson

PPP Loan News and Updates

Stimulus talks have started up again with Treasury Secretary Steven Mnuchin, supported by Senate Majority Leader, Mitch McConnell and House […]

December 10, 2020Posted By Tonneson

Year-End Tax Letter 2020

We are pleased to provide you with this 2020 year-end tax letter outlining important guidelines for compliance with federal and state […]

September 2, 2020Posted By Tonneson

Additional Guidance on Payroll Tax Deferral

Last Friday, the IRS issued guidance on the payroll tax deferral that President Trump signed in a presidential memorandum on […]

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