W4 Form Tax Withholding for IRS and State Income Taxes

This tax season raised many questions concerning federal and state withholding. The 2017 Tax Cuts and Job Act reform the individual income tax code by lowering tax rates on wages, investment, and business income, broadening the tax base, and simplifying the tax code. On December 5, 2019, the IRS issued the redesigned 2020 form W-4 that was initially expected in 2017 after the

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Small Businesses Unclear on How and When to File the PPP Forgiveness Loan Application

Many small businesses that obtain the PPP Loan concluded their PPP loans covered periods. The lenders and the SBA flooding the internet with the PPP loan forgiveness applications, it is uncertain when the application is due or if it is currently adequately representing the latest guidelines. Legislative proposal bill 4321 is a Continuing Small Business

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The SBA Provides Further Guidance Related to the PPP Provisional Rules

As we suspected, further guidance was provided by the SBA late May 22, related to the PPP (Paycheck Protection Program) provisional rules. Again, the detail instructions provide little remedy to the additional questions we continue to have. However, countless earlier questions were addressed in detail. As professionals, many of us rely on the statute which

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