Quarterly Estimated Tax Payments Revised Due to COVID-19

BWTP PC recently sent an email blast out to clients regarding taking another look at prepared 2020 quarterly estimated tax payments due to changes caused by COVID-19. The email blast stated: “We hope you and your family are safe and staying healthy. In order to provide the best

Guidance Issued Concerning Deferral of Employee Social Security Tax Withholding

On August 8, 2020, the President of the United States issued a Presidential Memorandum authorizing the Secretary of the Treasury to defer the withholding, deposit, and payment of certain payroll tax obligations. Applicable wages was defined as wages paid to an employee on a pay date d

PPP Loan Forgiveness Applications on Hold Until at least August 10

The SBA is not accepting forgiveness applications until August 10, 2020, and this date will be subject to extension if any new legislative amendments to the forgiveness process necessitate changes to the system. Further, final Treasury guidance concerning PPP Forgiveness Applications,

All Dentists Can Now Apply for Provider Relief Funds Available from Health and Human Services

In June, HHS announced that Medicaid providers experiencing a loss of revenue or increased expenses due to COVID-19 would be eligible for a grant of 2% of annual revenue related to payments received from dental patient care. on Friday, July 10, 2020, HHS announced that these funds are

PPP Loan Application Deadline Extended to August 8, 2020

The President recently signed into law legislation to extend the application deadline for the Paycheck Protection Program (PPP) from June 30 to August 8. As of June 30, approximately $130 billion of the $659 billion program was still unused. Unless the money can be repurposed by Congr