Sciarabba Walker Blog
The information in these blog posts is provided for general informational purposes only and is not intended to substitute for accounting, tax, or financial advice from a professional accountant. While we use reasonable efforts to furnish accurate and up-to-date information, we do not warrant that any information contained in or made available through this blog is current or error free. No part of this communication is intended to be used for the purpose of avoiding penalties under U.S. federal tax law.
PPP & EIDL Receive New Round of Funding
A new relief package, The Paycheck Protection Program and Health Care Enhancement Act, passed the House yesterday and President Trump is expected to sign the bill into law today. The relief bill includes the following: $310 billion to replenish the Paycheck Protection...
COVID-19 Paid Sick Leave Credit and Paid Family Leave Credit
H.R. 6201, the “Families First Coronavirus Response Act”, which was passed on March 18, 2020, enacted two refundable tax credits to provide relief amidst the COVID-19 (Coronavirus) pandemic. We outline the credits below. Paid Sick Leave Refundable Credit Conditions:...
Strategies for Maximizing Your Advanced Recovery Rebate Checks
The Coronavirus Aid, Relief, and Economic Security (CARES) Act signed into law by President Trump on March 27, 2020 provides for individuals to receive advanced rebate checks or "stimulus checks" in the coming weeks and months. While this will take time to implement,...
Bonus Depreciation Technical Correction for Qualified Improvement Property
On Friday, March 27, 2020, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law by President Trump in an effort to provide economic relief in the wake of the COVID-19 (Coronavirus) pandemic. Below, we outline the changes to bonus...
CARES Act Business Net Operating Loss (NOL) Provisions
UPDATED September 29, 2020 - New guidance has changed the handling of Net Operating Losses following the CARES Act of 2020. Read our blog update here. ORIGINAL POST - On Friday, March 27, 2020, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed...
CARES Act Unemployment Insurance Provisions
The Coronavirus Aid, Relief, and Economic Security (CARES) Act signed into law by President Trump on March 27th, 2020 enacted numerous changes to unemployment benefit assistance in the United States. In this blog, we detail some of the main changes to the program....
Employers Payroll Tax Payment Delay & Payroll Tax Deferral
The Coronavirus Aid, Relief, and Economic Security (CARES) Act signed into law by President Trump on March 27th, 2020 established a deferral program of certain payroll taxes for employers affected by the COVID-19 (Coronavirus) pandemic. Deferral Basics Payment of...
Employee Retention Credit for Employers
The Coronavirus Aid, Relief, and Economic Security (CARES) Act signed into law by President Trump on March 27th, 2020 established a refundable credit against an employer's payroll and railroad taxes for employers who were affected by COVID-19 (Coronavirus) but...
SBA Paycheck Protection Program
UPDATED 8/13/2020 - The Treasury Department and SBA have released new PPP loan and forgiveness FAQs. Read our blog covering the changes here. UPDATED 6/17/2020 - The Treasury Department and SBA have updated their Third and Sixth Interim Final Rules regarding the PPP...
Available Subsidies for Existing and New SBA Loans
On Friday, March 27, 2020, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law by President Trump in an effort to provide economic relief in the wake of the COVID-19 (Coronavirus) pandemic. Below, we outline some of the existing...