by Franskoviak Tax Solutions | Jan 15, 2021 | current events, Information, PPP
The US Small Business Administration has approved, and lenders will now be open for funding of PPP1 and PPP2 first and second round draws loans as of Monday January 19, 2021. They anticipate there will be enough funding for all borrowers for PPP2. as is the case for... 
by Franskoviak Tax Solutions | Dec 23, 2020 | Information, PPP, tax planning, taxes
Many of our clients have been asking about the Paycheck Protection Program loans and the tax effects of forgiveness and deductibility of related expenses. This has been a point of great consternation in the months since the CARES Act was passed. The Internal Revenue... 
by Franskoviak Tax Solutions | Sep 4, 2020 | Coronavirus, COVID19, Government, Important Tax Dates, Information, IRS, Tax Deadlines, tax deductions, tax filing, tax laws, tax planning, taxes
The Executive Order for Payroll Tax Deferral The Executive Memorandum signed by the President August 8, 2020, providing for the deferment of some payroll taxes. This was followed by Internal Revenue Service Notice 2020-65 which offered some clarity on provisions of... 
by Franskoviak Tax Solutions | Jul 28, 2020 | Information, IRS, IRS Tax Problems, services, Small Business, tax filing, tax planning
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by Franskoviak Tax Solutions | Jun 5, 2020 | Coronavirus, COVID19, Government, Information, tax filing, tax planning, taxes
Many of our clients for whom we facilitated PPP loans appropriated by the CARES Act have been very concerned about the restrictive nature of the forgiveness provisions. Passage of the Paycheck Protection Program Flexibility Act of 2020 (HR 7010) on June 3, 2020, by... 
by Franskoviak Tax Solutions | Apr 17, 2020 | Coronavirus, COVID19, Government, Information, IRS, Small Business
Update on The Paycheck Protection Loan SBA Program As of yesterday, April 16th, 2020 the SBA has run out of money for funding of the Paycheck Protection Forgive able loan program and is not taking further applications. In addition, the SBA have stopped taking... 
