Busy week for PPP

Last week was a busy week for the Paycheck Protection Program. New applications and guidance were released, the Small Business Administration and the U.S. Treasury Department suddenly reversed direction on disclosing information about companies that received loans through the program, and a key program deadline is fast approaching. Easy as 3508EZ Filing for Paycheck Protection …

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Henry+Horne announces coronavirus protocols for visiting offices

In response to the coronavirus (COVID-19) pandemic, Henry+Horne closed our offices to the public in March. We have been closely monitoring developments and complying with current guidance from public health organizations and the federal, state and local governments. While our doors remain closed, we understand there are times you need to stop by the office. If …

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The New Busy Tax Season

Being new to the accounting profession, I have not technically experienced a totally “normal” busy tax season. Last year, I was an intern, still in school, and trying to learn as much as I could. What I did not know is that I would be learning right along side everyone else due to the new …

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IRS releases FAQs for sick foreigners claiming U.S. tax exemption

Following the global outbreak of COVID-19, the IRS has posted FAQs for alien individuals who may have intended to leave the United States but were unable to leave due to being sick with a medical condition or problem, as described in §7701(b)(3)(D)(ii). There are certain circumstances in which non-U.S. citizens can be taxed as U.S. …

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How to balance life during a global pandemic

As we work together to slow the spread of Covid-19, many of us have been asked to temporarily work from home. At the same time, schools are closed, and parents are being tasked with teaching their children from home.  Add in the stress of college courses and/or trying to gain traction in a new career, …

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Act allowing more flexibility in PPP loans passes congress

The Paycheck Protection Flexibility Act is on its way to the president for signing after passing the senate late last night, reducing restrictions on how funds from PPP loans can be spent while protecting eligibility for forgiveness. Don’t miss: PPP loans – forgiveness, calculations and more Webinar Businesses will now have more time to use …

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Reminder of new tax deadlines

As a reminder because of the economic impact of COVID-19, the federal income tax filing deadline has been extended to July 15, 2020. These new deadlines apply to all individual tax returns, trusts, and corporations. Estimated payments for federal returns have also been extended to July 15, 2020, which means that penalties and interest will …

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Have You Filed Your Form 5500?

How to file The July 31st filing deadline has come and gone. Did you file an extension? If you’re not sure, check with your TPA.  We are just one month away from the extended filing deadline, October 15th. Have you filed yet? Beginning January 2010, all Form 5500’s are required to be submitted online through …

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