Articles
- SBA Disaster Loan Information
The Small Business Administration is offering assistance in response to the Coronavirus. Small business owners in all U.S. states and territories are currently eligible to apply for a low-interest loan due to Coronavirus (COVID-19). GSCPA has... read more
- Tax Extension Filing Guidance
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ince the emergency declaration, the IRS has issued several notices on the extension of various tax deadlines. Gerard Schreiber of Louisiana has compiled a master list of Federal tax extensions and important resources for tax filing guidance to... read more
- IRS Provides Guidance Under the CARES Act to Taxpayers with Net Operating Losses
WASHINGTON – The Internal Revenue Service today issued guidance providing tax relief under the CARES Act for taxpayers with net operating losses. Recently the IRS issued tax relief for partnerships filing amended returns. COVID Relief for... read more
- IRS Extends More Tax Deadlines to Cover Individuals, Trusts, Estates Corporations and Others
WASHINGTON — To help taxpayers, the Department of Treasury and the Internal Revenue Service announced today that Notice 2020-23 extends additional key tax deadlines for individuals and businesses. Last month, the IRS announced that... read more
- Update to Notice 2020-18, Additional Relief for Taxpayers Affected by Ongoing Coronavirus Disease 2019 Pandemic
Notice 2020-23; Expanded Federal tax filing and payment relief on account of Coronavirus Disease 2019 (COVID-19) emergency. The Treasury Department and IRS are providing additional relief to taxpayers, postponing until July 15, 2020, a variety of... read more
- TIGTA Urges Taxpayers to “Be On High Alert” For Coronavirus Relief Payment Scams
WASHINGTON - The Treasury Inspector General for Tax Administration (TIGTA) today urged taxpayers to be on high alert for potential scams related to government assistance to taxpayers impacted by the coronavirus. “The Coronavirus Aid,... read more
- Gov. Kemp Shelter in Place Order Released
Georgia Governor Brian Kemp has issued a shelter-in-place order to help stop the spread of COVID-19. The order takes effect at 6pm on Friday, April 3, 2020. Read the full Executive Order here. The accounting profession is among the businesses... read more
- Paycheck Protection Act
The AICPA has released an update concerning recommendations for the Paycheck Protection Program. The Department of Treasury has released the Paycheck Protection Program application and supplemental information, all available on their website. We... read more
- Employee Retention Credit Available for Many Businesses Financially Impacted by COVID-19
WASHINGTON — The Treasury Department and the Internal Revenue Service today launched the Employee Retention Credit, designed to encourage businesses to keep employees on their payroll. The refundable tax credit is 50% of up to $10,000 in... read more
- Three Action Items to Best Prepare Your Company for a Business Interruption Claim
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Given the current environment with the outbreak of the COVID-19 pandemic, now is the time to review your business interruption plans and take action. It is yet to be seen if losses due to interruptions caused by the pandemic will be covered in... read more
