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INFRASTRUCTURE ACT HALTS Q4 2021 EMPLOYEE RETENTION CREDIT FOR MANY EMPLOYERS

INFRASTRUCTURE ACT HALTS Q4 2021 EMPLOYEE RETENTION CREDIT FOR MANY EMPLOYERS 900 600 SAX LLP - Advisory, Audit and Accounting

The Infrastructure Investment and Jobs Act (Infrastructure Act) ends the Employee Retention Credit (ERC) for wages paid after September 30, 2021 for many employers.  Recovery startup businesses, however, may continue…

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Tax Alert

Important Tax Reminder: Repayment of 50% of Deferred Payroll Taxes Due December 31

Important Tax Reminder: Repayment of 50% of Deferred Payroll Taxes Due December 31 400 400 SAX LLP - Advisory, Audit and Accounting

Employers who took advantage of the CARES Act employer payroll tax deferral in 2020 are reminded that 50% of the deferred taxes must be paid no later than December 31,…

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Paycheck Protection Program

SBA TO OPEN STREAMLINED PPP LOAN FORGIVENESS PORTAL ON AUGUST 4

SBA TO OPEN STREAMLINED PPP LOAN FORGIVENESS PORTAL ON AUGUST 4 400 400 SAX LLP - Advisory, Audit and Accounting

The Small Business Administration (SBA) will open an online portal where Paycheck Protection Program borrowers can directly apply for forgiveness on loans of $150,000 or less without going through their…

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Financial Relief

ADDITIONAL RELIEF ANNOUNCED FOR NEW JERSEY SMALL BUSINESSES & INDIVIDUALS

ADDITIONAL RELIEF ANNOUNCED FOR NEW JERSEY SMALL BUSINESSES & INDIVIDUALS 400 400 SAX LLP - Advisory, Audit and Accounting

On May 7, 2021, New Jersey Governor Phil Murphy announced an additional $275 million in aid is on its way for small businesses and individuals hit hard by the COVID-19…

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Paycheck Protection Program Loan

SBA CEASES ACCEPTANCE OF MOST NEW PPP APPLICATIONS

SBA CEASES ACCEPTANCE OF MOST NEW PPP APPLICATIONS 400 400 SAX LLP - Advisory, Audit and Accounting

On May 4, 2021, the Small Business Administration (SBA) announced that the funds allocated to the Paycheck Protection Program (PPP) general fund had been exhausted.  While Congress recently reached an…

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April 29th Webinar

WATCH THE WEBINAR: PLANNING NOW FOR THE ESTATE TAX OVERHAUL

WATCH THE WEBINAR: PLANNING NOW FOR THE ESTATE TAX OVERHAUL 400 400 SAX LLP - Advisory, Audit and Accounting

The recently proposed “For the 99.5% Act” would bring sweeping changes to the taxation of estates and inherited gains, while the “Sensible Taxation and Equity Promotion Act” (STEP) would eliminate…

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Real Estate

April 29 Webinar: Planning for the Estate Tax Overhaul

April 29 Webinar: Planning for the Estate Tax Overhaul 400 400 SAX LLP - Advisory, Audit and Accounting

The recently proposed “For the 99.5% Act” would bring sweeping changes to the taxation of estates and inherited gains, while the “Sensible Taxation and Equity Promotion Act” (STEP) would eliminate…

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Tax Alerts

Tax Alert: IRS Extends Additional Tax Deadlines for Individuals to May 17, 2021

Tax Alert: IRS Extends Additional Tax Deadlines for Individuals to May 17, 2021 400 400 SAX LLP - Advisory, Audit and Accounting

The IRS has recently announced that individuals have until May 17, 2021 to meet certain tax deadlines that would normally fall on April 15. This extension includes the filing of…

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PPP deadline extended

Paycheck Protection Program Deadline Extended

Paycheck Protection Program Deadline Extended 400 400 SAX LLP - Advisory, Audit and Accounting

President Biden signed the PPP Extension Act of 2021 into law on March 30, 2021, extending the date borrowers may apply for funding from March 31, 2021 to May 31,…

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Restaurants

SBA Targets Early April Opening of Restaurant Revitalization Fund Application Process

SBA Targets Early April Opening of Restaurant Revitalization Fund Application Process 400 400 SAX LLP - Advisory, Audit and Accounting

The U.S. Small Business Administration (SBA) is targeting early April to launch a phased rollout of the $28.6 billion Restaurant Revitalization Fund (RRF) that was established by the American Rescue…

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