COVID Resources

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Ready to Apply for PPP Loan Forgiveness? Stop and Reconsider

For the past several months, we have advised many clients to patiently wait on applying for PPP forgiveness. There were a number of uncertainties, including taxability of forgiven amounts and potential future legislation. Good news – The recently passed Consolidated Appropriations Act, 2021 made two major changes related to PPP forgiveness. The first is to clarify the…
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Employee Retention Tax Credit- Understanding changes made by the Credit Consolidated Appropriations Act

Employee Retention Tax Credit- Understanding changes made by the Credit Consolidated Appropriations Act You may have seen or read about the Employee Retention Tax Credit (ERC) that was introduced with the CARES Act and clarified by the recent Consolidated Appropriations Act (CAA). The short version is, if your business was shut down or severely impaired…
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PPP2 Application & Additional Guidance

Late on January 6th, the SBA issued 120 pages of guidance in the form of Interim Final Rules. The revised application for Paycheck Protection Program Part 2 was released on January 8th.

The SBA will begin taking applications on January 11th although only new borrowers in underserved communities will have access today and tomorrow. On Wednesday, January 13th, all eligible entities nationwide will be able to apply.

Analysis of New Coronavirus Relief Bill

The Consolidated Appropriations Act, 2021, H.R. 133 passed both houses of Congress on Monday, December 21st was signed by President Trump yesterday. We’ll provide additional analysis; however, the Journal of Accountancy has produced two excellent summaries. Links are provided below. Our intention is to have a webinar covering the specifics of PPP and now the…
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Dent Moses is Here to Help with PPP Forgiveness Applications

Most banks have opened their PPP Forgiveness online portals and many clients are ready to apply for forgiveness of PPP loans.  We are here to help. Our tax and accounting advisors have spent the past 8 months following the PPP loan program as it was enacted, funded, and went through a series of changes over…
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