When will you receive your refund? The answer depends on how you filed your return. The IRS should issue your refund check within six to eight weeks of filing a paper return.
Miss last month's newsletter? No problem. We keep the last 6 months of newsletters here for you to read.
PPP LOAN FORGIVENESS UPDATE
The Small Business Administration has just issued a new application form to guide you in the process of PPP Loan Forgiveness.
The covered period for this loan is either: the 24-week period beginning on the PPP Loan Disburement Date or the borrower may elect to use an 8-week period (if the borrower already recieved its PPP loan before June 5th, 2020).
If you've already filed or if you need to file - please take a look at this new form. And as always, please call us with any questions.
Below I'm attaching four links for you:
2. The Updated form (updated June 16th, 2020): https://www.sba.gov/sites/
3. A "Fast Track" short form -- SBA Form 3508EZ: https://www.sba.gov/sites/
4. Application Instructions form: https://home.treasury.gov/
ESTIMATED PAYMENT UPDATE
Many of you are wondering about your 2020 quarterly estimated payments. It was recently announced that both the 1st and 2nd Federal quarterly payments are now due on July 15, 2020 along with your 2019 tax payment. If your taxes are not complete and you would like to pay the 1st quarter estimate before July 15, 2020, pay at least as much as you paid quarterly for 2019. If the amount is too little, the balance can be made up with the July quarterly payment.
Although most states have adopted the federal changes to the filing deadline for both 2019 returns and 2020 estimates, some hMany of you are wondering how the stimulus payments approved in the CARES act signed March 27 will work.
Many of you are wondering how the stimulus payments approved in the CARES Act signed March 27 will work.