The Paycheck Protection Program (“PPP”) authorizes up to $349 billion in forgivable loans to small businesses to pay their employees...

The State of Maine will extend the deadline for Maine income tax payments from April 15, 2020, to July 15, 2020. The change aligns with...

The federal income tax filing due date is automatically extended from April 15, 2020, to July 15, 2020. Taxpayers can also defer federal...

How much is the economic impact payment? Eligible taxpayers who filed tax returns for either 2019 or 2018 will automatically receive an...

Governor Mills’ COVID-19 emergency legislation (LD 2167), which was enacted by the Legislature and signed into law March 18th, included...

Check IRS.gov for the latest information: No action needed by most people at this time March 30, 2020 WASHINGTON — The Treasury...

April 1, 2020 WASHINGTON – The U.S. Department of the Treasury and the Internal Revenue Service today announced that Social Security...

The Families First Coronavirus Response Act (FFCRA or Act) requires certain employers to provide employees with paid sick leave or...

Each covered employer must post a notice of the Families First Coronavirus Response Act (FFCRA) requirements in a conspicuous place on...

Areas eligible for SBA disaster loans Small business owners in all U.S. states and territories are currently eligible to apply for a...

Program Overview The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their...

The Coronavirus Aid, Relief, and Economic Security (CARES) Act, H.R. 748, which passed the Senate by a 96-0 vote late on Wednesday,...

In the old days, S corporations paid rent to their shareholder employees and the office in home income and expenses were deducted on...

January 31, 2020 This is the deadline to send out Form W-2 to your employees, and to file the documents with the IRS. This is also the...

File 1099’s for payment made of at least $600 in: Rents. Services performed by someone who is not your employee. Prizes and awards. Other...

Health and accident insurance premiums paid on behalf of a greater than 2-percent S corporation shareholder-employee are deductible by...

S corporations must pay reasonable compensation to a shareholder-employee in return for services that the employee provides to the...

This general business credit is a percentage of the amount of wages paid to a qualifying employee while on family and medical leave for...

The Tax Cuts and Jobs Act does not change the prior law rule disallowing a deduction for the expenses of maintaining and operating...