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 […]
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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 […]
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 […]
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 […]
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 […]
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 […]
$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 […]
IRS Offers IRS Identity Protection with Expanded Program
The Internal Revenue Service is now allowing any taxpayer who wishes to add a level of protection to their tax […]
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 […]
IRS Issues Safe Harbor Rule for PPP Loan Expenses
On Wednesday, the Internal Revenue Service (IRS) issued new guidance on the deductibility of PPP loan eligible expenses in Revenue […]
SBA Requiring Borrowers of PPP loan in Excess of $2M to Submit Questionnaire
The Small Business Administration (SBA) has recently compiled a Questionnaire comprised of 21 questions for large borrowers: Form 3509 for […]