by DunlapSLK | May 13, 2020 | COVID-19 Tax Update, Resources For Employers, Resources For Individual Taxpayers
In response to the COVID-19 crisis, on Tuesday, May 12 the IRS announced relief for Section 125 cafeteria plans during calendar year 2020, providing increased flexibility for: employer-sponsored health coverage health Flexible Spending Arrangements (health FSAs)...
by DunlapSLK | May 8, 2020 | COVID-19 Legislative Update, Resources For Employers
The Small Business Administration has promised additional guidance on loan forgiveness (as a whole) as it relates to the Paycheck Protection Program (PPP). While we await that guidance, the SBA – in conjunction with the U.S. Treasury – continues to release partial...
by DunlapSLK | May 8, 2020 | COVID-19 Tax Update, Resources For Individual Taxpayers
While an economic downturn is never good news for investors, it presents a potentially valuable opportunity for individuals considering converting their traditional IRA (and funds that have been rolled over from a qualified plan) to a Roth IRA. It is important to...
by DunlapSLK | May 7, 2020 | COVID-19 Legislative Update, Resources For Employers
PPP Loan Eligibility Certification Presumably as a result of the public outcry over large publicly-traded companies receiving PPP loan proceeds while many small businesses were locked out of the program, the Treasury Department tightened the eligibility rules on who...
by DunlapSLK | May 1, 2020 | COVID-19 Legislative Update, Resources For Employers
Late April 30, the IRS issued additional guidance on the Paycheck Protection Program (PPP). You may recall the proceeds of a PPP loan can be forgiven if spent on qualified expenses – such as payroll costs, mortgage interest, rent and utilities – within a certain...
