The IRS has issued its first guidance on the Employee Retention Credit. Who qualifies? Employers receiving a PPP loan may NOT claim the credits. The employer’s business must be fully or partially suspended by government order due to COVID-19 during the quarter. Or, the employer’s gross receipts are below 50% of amounts in the same […]
Read more...Month: April 2020
Stimulus Bill Highlights
The CARES Act contains a lot of provisions designed to stabilize the economy and help individuals and business with immediate cash needs. This is an overview. We will be communicating details as we receive them. Recovery Rebates Tax credit advances paid by the Treasury. Individuals will receive $1200 ($2400 for joint filers) plus $500 per […]
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