HW&Co

Posted in: Articles, COVID-19, Federal

PPP Loan Forgiveness Updates

The U.S. Small Business Administration (SBA) and the US Treasury answered additional questions this week, related to forgiveness of Paycheck Protection Program (PPP) loans and Economic Injury Disaster Loans (EIDL).  An interim final rule was also issued, that deals with the process if borrowers want to appeal certain SBA loan decisions. The new FAQs: Permit […]

Read the full article

Posted in: Articles, COVID-19, Federal, Tax

The possible tax consequences of a PPP loan

If your business was fortunate enough to get a Paycheck Protection Program (PPP) loan taken out in connection with the COVID-19 crisis, you should be aware of the potential tax implications. PPP basics The Coronavirus Aid, Relief and Economic Security (CARES) Act, which was enacted on March 27, 2020, is designed to provide financial assistance […]

Read the full article

Posted in: Articles, COVID-19, Federal, Healthcare

HHS Extends Application Deadline for Medicaid Providers and Plans to Reopen Portal to Certain Medicare Providers

On July 31, 2020, the Department of Health and Human Services (HHS) announced an extension of the application deadline for Phase 2 general distribution to Medicaid, Children’s Health Insurance Program (CHIP), and dental providers. This extension is included as a part of an ongoing effort to provide financial relief to healthcare providers impacted by COVID-19. HHS […]

Read the full article

Posted in: Articles, COVID-19, Federal, Resources, Tax

Where’s my tax refund?

With the July 15 tax deadline now past, the Internal Revenue Service reminds all taxpayers that there is no secret way to find out when your tax refund will be issued. Key facts to help understand the refund process better: Taxpayers who file electronically and use direct deposit can expect their refund faster than those […]

Read the full article

Anthony LaNasa CPA CFE

Posted in: Articles, COVID-19, Federal, Fraud

How fraud perpetrators are stealing unemployment benefits

When Congress authorized an additional $600 in monthly unemployment benefits as part of the CARES Act, out-of-work Americans weren’t the only ones it helped. Criminals have descended like locusts on state unemployment insurance agencies, using stolen identities to fraudulently claim both standard benefits and the additional funds administered by the Pandemic Unemployment Assistance (PUA) program. […]

Read the full article