Paycheck Protection Program
In the latest edition of his "Federal Tax Update" podcast, Ed Zollars discusses what we know (very little) and still don't know (a lot) about the potential changes to capital gains rates.
The IRS makes a major change in the computation of excludable ARPA unemployment, the PPP application deadline is extended, and PPE is defined as medical care.
The 60-day extension helps small businesses access much-needed PPP relief funds and gives the SBA time to address lingering E-Tran system issues and provide more guidance.
Ed Zollars discusses the IRS' decision to push back the filing date for Forms 1040 only, leaving everything else, including Q1 2021 estimates, still due on April 15.
In his most recent "Federal Tax Update" podcast, Ed Zollars reviews the IRS' latest guidance on the interaction of PPP forgiveness and the 2020 Employee Retention Credit.