by Kelsey Barcomb | Jan 13, 2021
On December 27, 2020, the President signed the Economic Aid to Hard-Hit Small Businesses, Nonprofits and Venues Act of 2020 (the “Economic Aid Act”). In addition to extending the Paycheck Protection Program (“PPP”) for first time and second draw borrowers, the...
by Kelsey Barcomb | Nov 20, 2020
Late Wednesday, the IRS released new guidance clarifying the tax treatment of certain expenses paid by taxpayers who have received a loan under the Paycheck Protection Program (PPP). This new guidance amplifies a prior IRS notice on this subject that has been the...
by Kelsey Barcomb | Apr 17, 2020
On April 14, 2020, the U.S. Small Business Administration (“SBA”) released an Interim Final Rule regarding, among other things, the eligibility of individuals with self-employment income to receive SBA-backed forgivable loans under the Paycheck Protection Program,...
by Kelsey Barcomb | Apr 13, 2020
Wiggin and Dana Clients, Consistent with its prior notices, the IRS has now extended the due date for the second 2020 quarterly estimated federal income tax payment, otherwise due on June 15, 2020, until July 15, 2020. Thus, both the first and second quarterly...
by Kelsey Barcomb | Mar 30, 2020
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act, H.R. 748) (the “CARES Act”) signed into law on March 27 contains a number of tax provisions that will have a significant impact on certain taxpayers. A summary of the most significant tax provisions...
