Coronavirus (COVID-19) Resource Center

As the coronavirus (COVID-19) pandemic continues to evolve, be assured that the health and well-being of our employees, clients, colleagues and their families are of utmost importance to us. The rapid outbreak is an alarming health crisis that the world is grappling with, and it is also having a significant commercial impact that’s being felt globally. As your trusted strategic advisor, we have created our Coronavirus Resource Center to help disseminate important information for clients and friends as we evaluate ways to mitigate the inevitable financial effects.  Our focus is to help you position yourself and your business to be resilient in the face of this threat.

Employee Retention Tax Credit

The Consolidated Appropriations Act, 2021 (CAA), enacted in December of 2020, provided a number of provisions designed to assist individuals and businesses impacted by the COVID-19 pandemic. One of the significant opportunities in the CAA is the extension and enhancement of the Employee Retention Credit (ERC), which was introduced in the CARES Act. Our Employee Retention Credit Guide addresses the key changes in the ERC and how employers can realize these savings.

EMPLOYEE RETENTION CREDIT GUIDE

Paycheck Protection Program

Navigating through all the information and understanding the process of tracking the spending of your Paycheck Protection Program funds can be complicated and overwhelming. Visit our Paycheck Protection Program Assistance page to learn more about the program and to download the loan application, loan forgiveness application and the loan forgiveness instructions.

PAYCHECK PROTECTION PROGRAM ASSISTANCE

COVID-19 Laws and Related Guidance

COVID-19 Laws

March 2020

April 2020

June 2020

July 2020

December 2020

 

U.S. Dept. of Treasury Guidance for PPP

 

Links for COVID-19 Related Information:
Blue background with yellow caption Paycheck Protection Program

PPP Loans Have Reopened: Let’s Review the Tax Consequences

The Small Business Administration (SBA) announced that the Paycheck Protection Program (PPP) reopened..

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Can Your Business Benefit From the Enhanced Employee Retention Tax Credit?

COVID-19 has shut down many businesses, causing widespread furloughs and layoffs. Fortunately...

Brian Potter headshot tax partner at Dannible & McKee LLP

A Look at What’s in the Second Stimulus Package

On Sunday, December 27, 2020, the Consolidated Appropriations Act, 2021 (H.R. 133) was signed into law.

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Don’t Forget About the Payroll Tax Credit

For many businesses, retaining employees has been difficult, if not impossible. If your company...

Unemployment Benefits Application Forms

How Fraud Perpetrators Are Stealing Unemployment Benefits

When Congress authorized an additional $600 in monthly unemployment benefits as part of the CARES Act...

Kaitlyn Hensler headshot audit manager at Dannible & McKee LLP

Tips for Mitigating Fraud Risks in a Remote Work World

In connection with local, U.S. and world governments mandating temporary work stoppage and imposed limitations on...

Insights

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IRS Guidance Provides RMD Rollover Relief

The CARES Act was enacted in an attempt to mitigate the economic effects of the COVID-19 pandemic.

Michael J. Reilly, managing partner - Dannible & McKee, LLP headshot

Paycheck Protection Program Flexibility Act Makes Significant Changes to the Forgiveness Provisions of PPP Loans

The federal government responded again to further help America’s small businesses weather the financial challenges by pa

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Fortunate Enough to Get a PPP Loan? Forgiven Expenses Aren’t Deductible

If you get a PPP loan and use the proceeds on certain expenses, the loan amount will be forgiven. Can you then deduct th

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Business Charitable Contribution Rules Have Changed Under the CARES Act

Food and financial insecurity have increased during the coronavirus (COVID-19) pandemic. If your business is donating to

The word Coronavirus in red - Ben Franklin's picture and partial view of $100 bill with colorful graph - indicating how the virus is affecting us financially

The IRS Clarifies the Deductibility of PPP-Funded Expenses

In Notice 2020-32, the IRS has clarified that deductions for income tax purposes aren’t allowed for expenses that are ot

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SBA Extends the PPP Repayment Deadline for Self-Certification

May 14, 2020, is the revised deadline to repay Paycheck Protection Program loans for borrowers who have chosen the Small

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New COVID-19 Law Makes Favorable Changes to “Qualified Improvement Property”

A drafting error by Congress meant that some improvements to interior parts of nonresidential buildings had to be deduct

Nick Shires tax partner, headshot in hallway

CARES Act for Taxpayers – How to Maximize the Benefits of Retroactive Changes

The CARES Act includes many incentives for both individuals and businesses. With so many dollars at stake, there is lik

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Congress Expands Small Business COVID-19 Relief

The just-passed $484 billion Interim Stimulus Plan, among other things, replenishes Paycheck Protection Program funds.

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The IRS Announces New COVID-19-Related Assistance for Taxpayers

In the wake of the coronavirus (COVID-19) crisis, the IRS and U.S. Department of Treasury are

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The Small Business Administration Launches the Paycheck Protection Program

Loans are now available for eligible small businesses through the Small Business Administration’s Paycheck Protection

Businesspeople working in office on the new plan.

Answers to Questions About the CARES Act Employee Retention Tax Credit

As a business with employees, you may have questions about the new employee retention tax credit.

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CARES Act Provides COVID-19 Pandemic Relief to Businesses

The CARES Act includes several tax-related provisions to help businesses survive the coronavirus (COVID-19) pandemic.

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COVID-19 Stimulus Package Offers Relief to Affected Individual Taxpayers

During these uncertain times, it pays to know what relief is available under the CARES Act for you and your family.

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What You Need to Know About the Families First Coronavirus Response Act

The Families First Coronavirus Response Act provides paid leave benefits to certain employees and corresponding tax...