Small Business Administration, in light of lawsuit, notifies PPP lenders that loan necessity questionnaire is withdrawn.
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Administration issues Presidential priorities and pay-fors. Corporations and wealthy individuals face prospect of increasing tax rates.
Notice 2021-25 provides temporary relief on deductions for food or beverage under the Taxpayer Certainty and Disaster Relief Act.
The Relief Act made changes on how the Employee Retention Tax Credit works during the first two quarters of 2021.
PPP extension clears Senate. Program to be extended to May 31, with 30 days provided after May 31 for SBA to process pending applications.
Eligible businesses that did not receive certain other COVID-19 relief may qualify for grants up to $250,000.
Taxpayers often struggle to quantify participation for the passive activity rules. A recent court decision may affect those calculations.