Federal Tax Liens

Have you fallen behind on your taxes?  It may be due to a life disruption, financial hardship or simply neglect of your personal finances. If you have fallen behind, you may have received notice of a federal tax lien. What is a federal tax lien? How is the lien going to affect you? Is there …

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Can states apply sales tax retroactively?

It has been nearly two years since the passing of the Wayfair Supreme Court case which turned the sales tax world on its head. Yet, businesses are still muddying the waters to determine if and how the economic nexus rules apply to them. For states, the holding was somewhat of a windfall, as companies throughout …

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PPP loan forgiveness interim final rule released

This past Friday night, May 22nd, the Small Business Administration issued an interim final rule covering the forgiveness process associated with the Paycheck Protection Program. A link to the rule is available on our COVID resource page. Don’t miss: PPP loan forgiveness application now available The highly anticipated formal guidance supplements the application form that …

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Sourcing your income taxes: Understanding market-based sourcing

Sales tax nexus laws across the country got a fresh makeover starting in the summer of 2018 with the Supreme Court decision in Wayfair. Now, states are updating their income tax sourcing laws, hoping to lure more businesses to reside there while simultaneously gaining more tax revenues from businesses that do not. The method? Market-based …

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Credit reports are now free, every week

If there’s such a thing as a COVID-19 silver lining, here’s one. The three major credit reporting companies (Equifax, Experian and Transunion) are making your credit reports free through April 2021. Free access to your credit report is one more tool to help you weather the pandemic storm currently laying waste to economies and individual …

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PPP loan forgiveness application released by SBA

On Friday May 15th, the SBA released the Paycheck Protection Program Loan Forgiveness Application. The highly anticipated application provides insight and direction for the loan forgiveness process. The application can be found on our web page.  While the application will likely not answer all of the questions borrowers have, the eleven-page document includes the form, …

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PPP loan forgiveness application now available

The SBA released a PPP loan forgiveness application on Friday, May 15th along with instructions on completing the form. The application does provide some clearer guidance on some unanswered questions that people have been struggling with since the program started. There is clarity on how to calculate FTE (full time equivalent) employees, how to calculate …

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PPP loan increases available for partnerships and seasonal employers

Is your Paycheck Protection Program loan not covering as much as you need it to? Some businesses may be able to go back for more. The Small Business Administration (SBA) released an interim finale rule regarding PPP loan increases for partnerships and seasonal employers. Don’t miss: SBA clarifies process for review of good-faith PPP certifications …

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SBA clarifies process for review of good-faith PPP certification

In an effort to provide businesses desperately needed help during the COVID-19 crisis, the Small Business Administration (SBA) is administering loans through the Paycheck Protection Program. To streamline the process, qualification certification has been reduced to good-faith certification, but that’s raised several questions. Key among them, exactly how will SBA review borrower’s required good-faith certifications? …

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