The Employee Retention Credit (“ERC”) was originally enacted as part of the first wave of pandemic relief in March of 2020. Since then, it has been modified...
Deadline Coming: Follow Up on Your PPP Loans
Aug 19, 2021Payroll Protection Plan (PPP) loans were a lifeline for many small business owners during the worst of the pandemic-driven economic slowdown. In total, the Smal...
PPP Loan Changes Included in the New Appropriations Act
Jan 21, 2021The Consolidated Appropriations Act (CAA) extends, liberalizes and expands the Paycheck Protection Program (PPP). Originally established by the CARES Act, the P...
Is Your Business Eligible for the Second Round of PPP Loans?
Jan 12, 2021The second round of PPP loans is approved. Banks will begin accepting applications for second-time borrowers on January 13, 2021. Is your business eligible? Sec...
Covid Relief – Second Act Stimulus
Dec 22, 2020On Monday, December 21, 2020, Congress voted to approve a long-awaited stimulus related to the ongoing Covid-19 Coronavirus pandemic. The legislation is expecte...
PPP Loan Not Forgiven? There’s a Safe Harbor for Deducting Expenses
Dec 03, 2020The IRS recently issued guidance that provides a safe harbor allowing certain taxpayers to claim a deduction in 2020 for some otherwise deductible eligible expe...
IRS Clarifies Rules Surrounding PPP Forgiveness
Nov 20, 2020On November 18, the IRS published long-awaited guidance regarding PPP forgiveness and the deductibility of expenses paid with PPP loan proceeds. For most taxpay...
PPP Loan Necessity Questionnaire for Loans Over $2 Million
Nov 06, 2020On October 26, 2020, the SBA issued a notice in the federal register stating the SBA’s intent to release two new forms (Form 3509 for for-profit business and ...
COVID-19 The Path Forward: Resilience, Recovery & Resurgence
Aug 24, 2020 Kirsch CPA Group is working and thinking outside the box alongside our clients to navigate the impacts of the COVID-19 pandemic. We are developing new, innovati...
Tax Implications When Lenders Cancel Debts in the COVID-19 Era
Oct 01, 2020In the COVID-19-ravaged economy, debts can pile up beyond a borrower’s ability to repay. Lenders sometimes may be willing to forgive (or cancel) debts tha...