If you are a foreign owner of US property, this article provided by the Witherworldwide real estate think tank and Paul Sczudlo entitled “The IRS further targets foreign owners of US real property” may be of interest to you: With the impact of rampant U.S. federal government stimulus spending to address the coronavirus pandemic and […]
Please find the following post regarding state income tax rates and relocation to different states during the pandemic, from the law firm WithersWorldwide: Beginning early this year, COVID-19 started spreading in the United States, with some states hit harder than others. People who had the means and ability left the hard-hit, densely populated states and […]
You may be able to apply for forgiveness through the SBA Form 3508EZ if you are a borrower who is: Self Employed Individuals, Independent Contractors, or Sole Proprietors who have no employees at the time of the PPP Loan application (no employee salaries included) OR A Borrower who did not reduce the annual salary or […]
On June 16, 2020, the SBA released an updated instruction guide and application form for PPP Loan Forgiveness. These updates mirror the changes made by the PPP Flexibility Act, signed into law on June 5th. On Monday, June 22, they also released a additional revisions to the PPP Loan Forgiveness (which already reflect most of […]
Forgiveness for the Paycheck Protection Program Loan (PPP Loan) now has an application with detailed instructions. The SBA and the Department of the Treasury have come together to release a form with detailed instructions and an application for forgiveness. Please note that the application and instructions will be subject to further regulation and guidance. Please […]
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act, H.R. 748) was signed into law on Friday, March 27th, 2020. The act is meant to provide economic relief nationwide with a $2 trillion stimulus package. Titles I, II, III, and IV of the Act (Keeping American Workers Paid and Employed Act,; Assistance for American […]
On May 7, 2020, New York Governor Cuomo issued an extension on the mortgage and rent moratorium to August 20, 2020. The extension states: The following addition was made: All information and quotes were provided by the following resources: https://www.governor.ny.gov/sites/governor.ny.gov/files/atoms/files/EO202.28.pdf https://www.crainsnewyork.com/real-estate/eviction-moratorium-extended-cuomo-also-offers-help-landlords https://www.amny.com/coronavirus/cuomo-extends-eviction-ban-through-august-helping-cash-strapped-new-york-renters/
Please find the following contribution from Dott. Cacciavillan, of Asso Studio, in Vicenza; Dott. Gilberto Gelosa, Dott. Maurizio Bottoni, Dott.ssa Daniela Purghe, and Dott. Stefano Lecchi, of Interconsulting Studio Associato, in Milan; and Massimo Bertoni, Commercialista, in Bologna; all of whom are business consultants (commercialisti) we are associated with; regarding the new Decree by the Italian government in response to financial assistance for businesses affected by […]
Section 2301 of the CARES Act, the Employee Retention Tax Credit was designed to help businesses who are closed, partially closed, or are dealing with substantial revenue losses due to COVID-19. If you received a Paycheck Protection Loan, you are not eligible for a tax credit [1]. Eligibility Private Employers, including non-profits, regardless of size, […]
Please find the following post regarding Expanded Tax Deductions for Interest Expense Payments under the CARES Act, from the law firm WithersWorldwide: Private Client Considerations: Expanded tax deductions for your interest expense payments with the CARES Act April 8, 2020 Tax Code Section 163(j) had long imposed limitations on certain corporate taxpayers’ ability to take […]
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