PPP/Tax Credits – Practical Advice for You
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We recently wrote a PayDay with our first observations on the new pandemic stimulus law. We suggest that you read our previous PayDay for some basic information about PPP loans,…
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More PPP Cash – Less Tax
The COVID relief stimulus bill, titled “Consolidated Appropriations Act 2021 (hereafter CAA), was signed into law the evening of Sunday, December 27, 2020. The CAA contains several provisions which will…
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PPP Loans/Tax Holiday Updates
We have written many previous PayDay newsletters about PPP loans and the “payroll tax holiday,” all of which can be found at our website blog. Since a few weeks have…
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Payroll Tax Holiday – Update
Treasury released “guidance” Friday night to clarify President Trump’s August 8th executive order pertaining to the “deferral of employees FICA tax withholding” during the pay period September 1-December 31, 2020.…
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Payroll Tax Holiday – Our Thoughts
President Trump signed an executive order on August 8th which orders employers to stop withholding the 6.2% FICA/social security tax from employees, effective for paydays from September 1-December 31, 2020.…
Read More PPP Loans – How to Attain Total Forgiveness
AccuPay has been immersed in the Paycheck Protection Program concepts, processes and procedures since the PPP loan program was initiated as part of the CARES Act, enacted into law on…
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PPP Loan Forgiveness – New Forms & More Owner Costs!
The SBA/Treasury released 2 new loan forgiveness forms this week, along with instructions and a new “interim final rule.” The “upshot” of these SBA releases is that “owner-employees, self-employed individuals/independent…
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PPP Loan Forgiveness – New and Improved!
The Paycheck Protection Program Flexibility Act (PPP Flex) was signed into law on June 5, 2020, and makes significant enhancements in the ability of small employers to obtain forgiveness of…
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PPP Loan Forgiveness – Update!
On May 22nd, the SBA released further clarification regarding PPP loan forgiveness concepts and calculations, as a follow-up to its recently released SBA Form 3508, which is the current 11…
Read More PPP 8 Week Forgiveness – Suggestions
CARES Act PPP/SBA loans provide that qualifying costs (payroll, rent, interest and utilities) paid or incurred during the 8 week “covered period” may qualify for partial to complete “loan forgiveness”…
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