Changes to the Paycheck Protection Program Benefit Small Businesses

by Demetrius Robinson | Feb 25, 2021 | Finance, Government

By Demetrius Robinson & Melissa Yasinow On Monday, Feb. 22, 2021, the Treasury Department announced that it will be making temporary changes to the Paycheck Protection Program to benefit small businesses. Starting on Wednesday, Feb. 24, 2021, and continuing...

Ohio At-Home Workers May Get a COVID Income Tax Refund… Eventually

by Demetrius Robinson | Jan 29, 2021 | Finance, Government

By Demetrius Robinson & Melissa Yasinow Thanks to a recent lawsuit, Ohioans who have worked from home during the COVID-19 pandemic can now request a refund on local income taxes from the Regional Income Tax Agency (RITA). The only hitch: they may never get it....

Second PPP Loan Allocates More to Those Who Need It Most

by Demetrius Robinson | Jan 11, 2021 | Finance, Government

By Demetrius Robinson The Economic Aid Act, a part of the Consolidated Appropriations Act, 2021, updated the Paycheck Protection Program (PPP) to provide an additional allocation of PPP funding to businesses that were hardest hit by the economic devastation of the...

Paycheck Protection Program Relaunches With Expanded Eligibility

by Demetrius Robinson | Jan 11, 2021 | Finance, Government

By Demetrius Robinson The Small Business Administration (SBA) has reopened the Paycheck Protection Program (PPP) for applications for either a first initial draw of PPP funds (First Draw) or a second allocation (Second Draw), authorized under the Economic Aid to...

IRS Rescinds IRS Notice 2020-32: PPP Expenses Now Deductible

by Demetrius Robinson | Jan 7, 2021 | Finance, Government

By Demetrius Robinson The IRS has issued official guidance rescinding IRS Notice 2020-32 and Rev. Rul. 2020-27 concerning the deductibility of eligible expenses used under the Payroll Protection Program (PPP). Last year, the Internal Revenue Service issued IRS Notice...