In an effort to keep you updated on the evolving situation surrounding the COVID-19 pandemic, we have created a COVID-19 Resource Center to provide guidance during these unprecedented times. We will do our best to answer your questions and help you understand the potential impact on you and your business – from Paycheck Protection Program (PPP) loan forgiveness to CARES Act accounting information analysis.
We are continuing to closely monitor this situation and will keep you informed as more details become available. If you have any questions, please do not hesitate to contact us.
On-Demand Webinar: PPP Loan Eligibility and Good Faith Certification: Preparing to Respond to a Loan Review (Originally presented August 20, 2020)
This on-demand webinar provides an overview of existing guidance regarding good faith certification and eligibility for a PPP loan.
On-Demand Webinar: Walking Through the PPP Loan Forgiveness Application(Originally presented July 9, 2020)
This on-demand webinar is designed to assist businesses in the completion of the application and provide insight into the application’s mechanics.
On-Demand Webinar: PPP Loan Forgiveness – Latest Regulations, Application, & Flexibility Act (Originally presented June 22, 2020)
This on-demand webinar provides an overview of the forgiveness changes arising from the Paycheck Protection Flexibility Act, the latest forgiveness regulations and guidance from the SBA, forgiveness application instructions, and answers to Frequently Asked Questions.
On-Demand Webinar: Update on the Paycheck Protection Program’s Loan Forgiveness Application (Originally presented May 22, 2020)
This on-demand webinar provides a review of the PPP loan forgiveness provisions, clarification on the options for calculating payroll costs, loan forgiveness reductions based on FTEs and salary/wage reductions, answers to Frequently Asked Questions, and loan forgiveness application documentation.
On-Demand Webinar: PPP Loan Forgiveness Update (Originally presented April 29, 2020)
This on-demand webinar covers frequently-asked questions we received during our previous PPP loan forgiveness webinar, a closer look at last week’s SBA guidance that retroactively impacts PPP eligibility, and strategies to proactively plan for PPP loan forgiveness.
On-Demand Webinar: What You Need to Know About Key Individual Tax Provisions in the CARES Act (Originally presented April 24, 2020)
This on-demand webinar provides a high level overview of economic impact rebates, retirement plan distribution changes, waiver of required minimum distribution rules, and modifications for charitable contributions, student loans, and medical expenses.
On-Demand Webinar: Planning and Managing PPP Loan Forgiveness (Originally presented April 17, 2020)
This on-demand webinar provides an overview of Paycheck Protection Program (PPP) loan forgiveness guidelines and tests; case study examples; estimating, planning, and managing your loan forgiveness; integrating loan forgiveness into your broader business planning decisions; how to apply for loan forgiveness; and what to do if part or all of your loan doesn’t qualify for loan forgiveness.
On-Demand Webinar: What You Need to Know About Key Business Tax Provisions in the CARES Act (Originally presented April 6, 2020)
This 45 minute webinar provides an overview of employee retention credit; payroll tax deferral; a technical correction to Qualified Improvement Property depreciation; treatment of anticipated business losses in 2020, including a change to the rules for net operating losses (NOLs); and paid leave tax credits (included in the Families First Coronavirus Relief Act).
On-Demand Webinar: What You Need to Know About the Paycheck Protection Program Component of the CARES Act (Originally presented March 31, 2020)
This webinar covers key provisions of the Paycheck Protection Program, aspects of the related Loan Forgiveness, additional relief offered by the Economic Injury Disaster Loan Program, and how to prepare for the loan application process.
On November 18, 2020, the Internal Revenue Service issued much-needed guidance under Rev Rule 2020-27, which addressed the timing of the deductibility of expenses paid with proceeds from a PPP loan. The IRS took the controversial position that these expenses are not deductible in the year the expenses are paid or accrued, even if the application for forgiveness was not filed before the taxpayer’s year-end or a decision had not yet been rendered on forgiveness by the lender.
SBA Issues Questionnaires for PPP Borrowers With Loans $2 Million and Above (November 2, 2020)
On October 26, 2020, the SBA issued a notice seeking approval from the Office of Management and Budget for the collection of information from recipients of PPP loans of $2 million or greater. The notice provides for the issuance of loan necessity questionnaires, which appear to be part of the SBA’s review process to assess borrowers’ good-faith certification of their economic need.
The Small Business Administration (SBA), in conjunction with the Treasury, issued a new Interim Final Rule (IFR) on Monday that provided more details around the loan forgiveness aspect of the Paycheck Protection Program (PPP).
SBA Issues New Guidance on PPP Loan Forgiveness (August 5, 2020)
PPP Loan Forgiveness – Navigating the 8 vs. 24 Weeks Dilemma (June 23, 2020)
House Passes Bill to Revise Rules on PPP Forgiveness (May 29, 2020)
PPP Safe Harbor Repayment Date Extended to May 14, 2020 (May 6, 2020)
House Approves $484 Billion Deal for Additional PPP and EIDL Funding (April 23, 2020)
SBA Issues New Guidance That Retroactively Impacts PPP Eligibility (April 23, 2020)
IRS Issues New Guidance for Payroll Tax Deferral (April 13, 2020)
Paycheck Protection Program Loan Application Clarifications (April 9, 2020)
SBA Releases Additional Guidance for Paycheck Protection Program (April 3, 2020)
CARES Act Provisions that Apply to Individuals (April 2, 2020)
Key Business Tax Provisions in the CARES Act (April 1, 2020)
Sample SBA Loan Application for Paycheck Protection Program (March 31, 2020)
The CARES Act and Your Retirement Plan (March 30, 2020)
$2 Trillion Coronavirus Relief Package Passed by Senate (March 25, 2020)
State and Local COVID-19 Business Relief Programs (April 2, 2020)
IRS Issues Additional Details on Payroll Tax Deferral, But Many Questions Remain (September 1, 2020)
Philadelphia’s Non-Resident Wage Tax Increasing July 1, 2020 (June 26, 2020)
New IRS Guidance for Tax Filing and Payment Extensions (April 10, 2020)
Federal and State Tax Filing and Payment Extensions Explained (April 8, 2020)
Tax Filing Deadline Extended to July 15 (March 20, 2020)
April 15 Tax Payment Deadline Extended (March 18, 2020)
On-Demand Webinar: COVID-19 Return to Work Strategies (June 24, 2020)
Join experts from Kreischer Miller, Connor Strong & Buckelew, and Semanoff Ormsby Greenberg & Torchia for this webinar that provides vital help for businesses that are developing a return to work strategy for employees.
Kreischer Miller COVID-19 Business Impact Survey (Survey results released May 7, 2020)
On-Demand Webinar: Managing Your Business Through a Crisis (Originally presented April 15, 2020)
IT Tips for a Secure Remote Work Environment (March 23, 2020)
On-Demand CFMA Webinar: PPP Loan Forgiveness Application and Certification Process with Expanded Q&A Session (Originally presented June 3, 2020)
On-Demand Webinar: Mitigating Construction Contractors’ Business and Financial Risks on the Job Site (Originally presented May 1, 2020)
Coronavirus Manufacturing Pulse Survey (Survey results released March 6, 2020)
Information contained on this page should not be construed as the rendering of specific tax, accounting, or other advice. Material may become outdated and anyone using this information should research and update to ensure accuracy. In no event will the firm be liable for any damages, direct, indirect, or consequential, claimed to result from use of the materials contained here. Readers are encouraged to consult with their advisors before making any decisions.