Be sure to view the recorded webinar (link provided below), which took place Friday, February 5th at 1:00PM (EST). The webinar featured David Natan of Newburg CPA, Tim Quin of HUB International and Jeff Plakans of Commonwealth Payroll & HR, for a panel discussion moderated by HUB’s Marc Mingolelli, [...]
Newburg Staff Writers-January 25, 2021 (8:00 AM) Under separate provisions of the Consolidated Appropriations Act, 2021, the credit for coronavirus related paid sick and family leave, originally part of the Families First Coronavirus Response Act, is extended through March 31, 2021. The Families First Coronavirus Response Act (FFCRA) provides paid [...]
Newburg Staff Writers-January 14, 2021 (5:00PM) As a follow-up to our piece on December 24th Newburg | CPA Article on Massachusetts $668M Relief for Small Business we wanted to provide you a quick reminder that the deadline for application submissions under the Massachusetts Sector-Specific Relief Grant Program is coming to a close [...]
Newburg Staff Writers-January 8th, 2021 (10:00AM) We wanted to highlight some of the key tax provisions impacting individuals and businesses contained within the new Consolidated Appropriations Act of 2021 (the ‘Act’).The Act signed into law on December 27, 2020 contains over 5,000 pages of text. While not all inclusive, [...]
Newburg Staff Writers-January 11th, 2021 (4:00PM) We wanted to provide you some updates from the PPP programs. PPP1 (original ‘first round’ program from 2020) applications available today January 11. Note that this is for select lenders and borrowers. If you did not apply for the PPP loan in the first round, you [...]
Newburg Staff Writers-January 4th, 2021 (1:00 PM) The latest stimulus package signed into law on December 27, 2020 under the Consolidated Appropriations Act of 2021 (the ‘Act’) provides some favorable enhancements to the Employee Retention Tax Credit (ERTC). The credit initially provided a 50% refundable tax credit for companies [...]
Newburg Staff Writers-December 24, 2020 (9:30AM) On December 23rd, Charlie Baker announced a $668 million Massachusetts program to provide help for small businesses within specific industries that have been impacted by the pandemic. The new relief program would offer grants up to $75,000 to certain eligible industries. The grant [...]
Newburg Staff Writers-December 22, 2020 (5:00PM) The new $900 billion Covid-19 relief package that passed Congress on Monday aims to support those struggling from the pandemic into the new year. Beyond the stimulus payment, unemployment extensions, and other detailed provisions, the Act provides some significant PPP benefits. We wanted to [...]
Newburg Staff Writers-December 21, 2020 (3:00PM) After significant back and forth and a multitude of renditions, congressional leaders on Sunday night brokered a deal totaling $900 billion in relief. Both sides indicated promises to pass the formal legislation as soon as possible. Currently there is no formal text available [...]
PPP Deductions Guidance (Rev. Rul. 2020-27 & Rev. Proc. 2020-51) On November 18, 2020, the IRS released Rev. Rul. 2020-27 and Rev. Proc. 2020-51 providing much needed guidance on the deductibility of the related Paycheck Protection Program (PPP) loan expenses and the timing issues related to PPP loan [...]
