Month: June 2020

Submitted by Joel Shabsin, CPA For those of you who were at the June 16th Chris Bird Webinar on the PPP forgiveness program, most of what he speculated on in Continue reading “Form 3508EZ and other PPP Forgiveness Changes”…

Submitted by Joel Shabsin, CPA Today, June 16, 2020, the SBA reopened the EIDL loan for businesses that are affected by the Corona virus. As the SBA received loan applications Continue reading “EIDL & PPP LOANS ARE STILL AVAILABLE”…

Submitted by Joel Shabsin, CPA Congress has been busy trying to further define the rules for PPP Loan Forgiveness. As we all know, the CARES Act provided billions of dollars Continue reading “Even More PPP Loan Forgiveness Changes”…

The Internal Revenue Service has a number of liaisons who work with practitioner groups. They have a monthly conference call on the first Thursday of each month. Here is updated Continue reading “IRS Updates – June 2020”…

Submitted by Richard Allen, EA, AFSP This Covid-19 emergency situation has significantly changed how we live many portions of our lives. The IAAI has a long history of providing live Continue reading “How to Join Zoom Meetings for Professional Education”…

Submitted by Joel Shabsin, CPA It looks like the Illinois Department of Revenue is beginning to issue Bulletins related to the Corona Virus pandemic and tax regulations. On May 20th Continue reading “IDOR Bulletins”…

Submitted by Richard Allen, EA, AFSP In Illinois, over 1.3 million unemployment claims have been processed since March. This includes many employees whose businesses have been curtailed under Illinois shelter Continue reading “Illinois Unemployment Issues – Looking at Both Sides”…

Submitted by Joel Shabsin, CPA On Friday, May 22nd, the SBA issued a 26 page final interim rules regarding PPP loan forgiveness. But things are changing rapidly in this area Continue reading “More on PPP Loan Forgiveness”…

Submitted by Richard Allen, EA, AFSP I personally spend almost an hour each day reviewing incoming email. Generally, email tends to be received from the following sources: • Emails from Continue reading “Protecting Your Email”…

Submitted by Richard Allen, EA, AFSP Two major laws were enacted in the last few months which significantly affect Required Minimum Distributions (RMDs) and retirement planning overall. There were the Continue reading “Required Minimum Distributions During 2020”…