IRS pushes back the start of the new filing season as the agency keeps working through 2019 returns. The agency has pushed back the start of filing to Feb. 12 for returns for the tax year 2020. Click the link below to read the entire article. https://digitaledition.courant.com/infinity/article_share.aspx?guid=cc3143d9-1fc8-48b1-ae5d-a776753a600a
Second Draw Loan applications will begin on January 11, 2021 from community financial institutions for at least the first two days of the reopening of the PPP loan portal. click here
On June 25, 2019, Connecticut passed legislation to create a comprehensive paid family and medical leave insurance program funded by employees and voluntary self-enrolled participants. The collection of wage deductions must begin on January 1, 2021. Payment of benefits to eligible employees will begin on January 1, 2022.
New legislation clarifies the tax implications for forgiven PPP loans and the associated expenses. read more…