Newsletters
Good news for PPP loan recipients of $50,000 or less
Posted October 2020
On October 9, 2020, the Small Business Administration (SBA) released a new interim final rule (IFR) providing additional guidance on the forgiveness process for PPP loans of $50,000 or less.
Tax Filing Reminders – October 2020
October 15th
November 15th
December 15th
December 31st
2021 Changes to State Unemployment
Posted October 2020
The COVID-19 pandemic has brought challenges and strains on all areas of the economy and employment. The Oklahoma Employment Security Commission (OESC) has recently announced that the state unemployment fund’s solvency has decreased considerably due to the record number of unemployment claims made during 2020. Because of this, the trust fund has been assigned the “Conditional Factor D” status, which brings with it the highest tax rates.
The Possible Tax Consequences of PPP loans
Posted October 2020
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.