On September 9, the SBA announced changes to the COVID-19 EIDL program, including raising the loan cap from $500,000 to $2 million.Read More
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SBA PPP Forgiveness Portal Open
Paycheck Protection Program (PPP) borrowers who received loans of $150,000 or less can apply for forgiveness directly through the SBA’s portal.Read More
IRS Releases Additional Guidance on the Employee Retention Credit
The IRS has released additional guidance on the Employee Retention Credit (ERC) through Notice 2021-49 and Revenue Procedure 2021-33.Read More
Tax Rules for Deducting Computer Software Costs
The tax rules for treating computer software costs can be complex. Here’s a basic overview to determine the tax treatment of the expenses.Read More
Maryland Form 511 Awaiting Approval From State
CCH has released a draft version of the MD Form 511 for pass-through entities, but the form has not been approved by the State of Maryland. Read More
10 Facts About the Pass-Through Deduction for QBI
Here are 10 facts about the lucrative qualified business income (QBI) deduction for owners of pass-through entities.Read More
Maryland Pass-Through Entity Filing Deadline Extended
The filing deadline for Maryland pass-through entities has been extended to September 15, but individual returns may be delayed.Read More
Claim the ERTC (Employee Retention Tax Credit)
Is your business eligible to claim the Employee Retention Tax Credit (ERTC)? If so, the benefits are substantial–up to $28,000 per employeeRead More
Maryland Form 511 for Pass-Through Entities
The new Maryland form 511 for pass-through entities is set to be released June 29th and could cause returns to be extendedRead More
2021 Q3 Tax Calendar: Key Deadlines for Businesses
Here are some of the key tax-related deadlines affecting businesses and other employers during the third quarter of 2021.Read More