Author Archives: Cordasco

Strategies for navigating the COVID-19 finance options and other stimulus provisions

On the night of Thursday, April 2, 2020, just hours before applications were supposed to be received, the Treasury issued regulations on the Paycheck Protection Program (PPP). Ironically titled “interim final rules” which has created significant confusion and left lenders … Continue reading

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COVID-19 Resource Center

As the events of the COVID-19 pandemic evolve, we are continuing to adapt to the changing tax landscape and world events. We are continually evolving to ensure that we do what is in the best interest of our clients, staff … Continue reading

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Paycheck Protection Program Update

The following is an update of recent developments of the Paycheck Protection Program (PPP) offered through SBA approved lenders. As you are aware, Congress laid out the framework of the new PPP under the CARES Act on March 27, 2020. … Continue reading

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Payroll Protection Program & Loan Forgiveness Provisions

The Paycheck Protection Program authorized by the CARES Act makes loans of up to $10 million available to certain qualified small businesses. These loans are intended to be forgivable if the borrower maintains employees and otherwise complies with the CARES Act. Congress … Continue reading

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Economic Injury Disaster Loan Program

The CARES Act made several changes to the Economic Injury Disaster Loan (EIDL) Program under Section 7(b) of the Small Business Act EIDL Loans are available to small businesses in a declared disaster area (all 50 states, Puerto Rico, Guam … Continue reading

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General Business Tax Provisions of CARES Act

The following are the relevant general business tax provisions under the Coronavirus Aid, Relief and Economic Security Act. Please see a detailed overview of these provisions. TCJA revisions Several provisions from the TCJA are altered, including: Net operating losses: Net operating … Continue reading

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Individual Tax Provisions of CARES Act

The following is a summary of the relevant individual tax provisions of the Coronavirus Aid, Relief and Economic Security Act. Please see the detailed overview of these individual tax provisions. Individual tax rebates Rebate checks of $1,200 per taxpayer plus … Continue reading

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Families First Coronavirus Response Act

The Families First Coronavirus Response Act provided a variety of provisions to help keep people healthy during this crisis. In addition, the bill provides assistance for individuals and their families while trying to not overburden employers. The following is a … Continue reading

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April 15th Due Date Changed to July 15th

  We hope you are well and safe!  As the events of the COVID-19 pandemic evolve, we are continuing to adapt to the changing tax landscape and world events. Our focus is on what is most important, our families, our staff and you, our clients. During … Continue reading

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Georgia & South Carolina Extend Tax Filing Due Date

Georgia & South Carolina, among many other states, have adopted legislation to conform to the new federal income tax filing and payment date of July 15, 2020. We expect all states to conform to the new filing dates. If you … Continue reading

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