Tax Day for Individuals Extended to May 17: Treasury, IRS Extend Filing and Payment Deadline

The Treasury Department and Internal Revenue Service announced that the federal income tax filing due date for individuals for the 2020 tax year will be automatically extended from April 15, 2021 to May 17, 2021. The IRS will be providing formal guidance in the coming days. Individual
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Congress Passes The American Rescue Plan Act (ARP Act)

Today the House passed the American Rescue Plan Act (ARP Act) of 2021 (the stimulus package) with the amendments passed by the Senate, and the Act is expected to be quickly signed by the President. Below are some highlights of the ARP Act. $1,400 per person stimulus payments for taxpa
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IRS Stimulus Payments Update

The IRS says that they have completed distribution of all stimulus checks or payments. The first round of checks of up to $1,200 per person started going out last April. In the second installment, checks up to $600 per person started going out around the new year. Those who still have
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HHS Provider Relief Funds Update – January 18, 2021

The Coronavirus Aid, Relief, and Economic Security (CARES) Act and the Paycheck Protection Program (PPP) and Health Care Enhancement Act, appropriated funds to reimburse eligible healthcare providers for healthcare related expenses or lost revenues attributable to the coronavirus. The
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Update on EIDL Advances Reduced From PPP Forgiveness

The December 27, 2020 stimulus bill updated the CARES Act and the requirement for the EIDL Advance to be excluded from the amount of the PPP Loan eligible for forgiveness. Guidance was recently issued by the SBA for applications already submitted, the SBA will be remitting a payment t
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