Mar 22, 2021 | Firm Updates, Individual Tax, Tax Tips
On Friday, March 19, New York State announced the extension of the individual tax deadline from April 15 to May 17, 2021, to align with the IRS’ recent extension of the federal tax deadline. It is important to note that both federal and New York State first...
Mar 12, 2021 | COVID-19 Response, Firm Updates
All the following changes relate to wages paid after June 30, 2021 and before January 1, 2022. The act codified the Employee Retention Credit and extended it through the end of 2021. The Employee Retention Credit is allowed against Medicare tax. Recovery Startup...
Mar 12, 2021 | COVID-19 Response, Firm Updates
Allocates $10 Billion to make payments to entities that have not received the full amount to which they are entitled to under the Consolidated Appropriations Act of 2021. Allocates $5 Billion to make payments to covered entities that have suffered an economic loss of...
Mar 12, 2021 | COVID-19 Response, Firm Updates
Provides an additional $7.25 Billion into the Paycheck Protection Program (PPP). The new law expanded the eligibility for certain organizations. Non-profit organizations other than those currently eligible to apply for PPP loans. The term additional covered non-profit...
Mar 12, 2021 | COVID-19 Response, Firm Updates
The U.S. Small Business Administration (SBA) will administer a new program specifically to eligible entities in the restaurant and hospitality business sectors through the Restaurant Revitalization Fund. An eligible entity means a restaurant, food stand, food truck,...
