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Massachusetts Enacts PTE Elective Excise as Workaround to $10k SALT Cap

Massachusetts enacted HB 4009 on September 30, 2021, becoming another state to give pass-through entities (PTEs) the option to be […]

Posted By Tonneson
In Business Tax, COVID-19 Updates
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July 13, 2021Posted By Tonneson

Coronavirus Resource Center

With information changing rapidly regarding the Coronavirus (COVID-19) pandemic, tonneson + co has created this Coronavirus Resource Center where you […]

July 13, 2021Posted By Tonneson

PPP Loan Necessity Questionnaire Eliminated

Finally, some welcome news regarding the Paycheck Protection Program (PPP) review of large loans! The PPP Form 3509 for business […]

March 18, 2021Posted By Tonneson

Federal and MA Individual Income Tax Returns Extended

The IRS and the Massachusetts DOR have both indicated that they have approved an extension of time to file the […]

March 15, 2021Posted By Tonneson

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 […]

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 21, 2021Posted By Tonneson

MA Tax Issue Regarding Forgiven PPP Loan Proceeds

We want to share some news regarding Paycheck Protection Program (PPP) forgiven loan proceeds for individual income taxes includable in […]

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 […]

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