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Bill Brings Early Termination Of The Employee Retention Credit
On November 15, 2021, President Joe Biden signed the Infrastructure Investment and Jobs Act (H.R. 3684) into law. This legislation contains a provision that terminates the employee retention credit (ERC) early, retroactively to October 1, 2021. The ERC was originally set to expire on December 31, 2021. The American Rescue Plan Act (ARPA) added a new type of employer that […]
There’s Still Time To Claim The Employee Retention Credit
UPDATE: The U.S. House of Representatives passed the Infrastructure Investment and Jobs Act – H.R. 3684 on November 5, 2021. The current version of the bill contains a provision that would terminate the COVID-19 pandemic Employee Retention Credit (ERC) as of the end of the third quarter of 2021 for most employers, except for a recovery startup business. For a […]
New IRS Guidance On The Employee Retention Credit
In March 2020, the Employee Retention Credit (ERC) was enacted as part of the CARES Act to benefit companies impacted by government orders due to COVID-19 or that experienced a significant decline in gross receipts compared to 2019. It was also designed to reward those companies who kept employees on the payroll. For 2020 and the first two quarters of […]
Follow The Cutoff Rules For Revenue And Expenses
Timing counts in financial reporting. Under the accrual method of accounting, the end of the accounting period serves as a strict “cutoff” for recognizing revenue and expenses. However, during the COVID-19 pandemic, managers may be tempted to show earnings or reduce losses. As a result, they may extend revenue cutoffs beyond the end of the period or delay reporting expenses […]
Restaurant Revitalization Fund Grant: What You Need to Know to Apply on May 3rd
Webinar length: 60 min. The Restaurant Revitalization Fund Grant (RRFG) application process will be “live” on Monday, May 3rd, at noon EDT. While the program rolled out fairly quickly, advanced input from the Small Business Administration and National Restaurant Association should aid in an efficient application process. The SBA has stated that it is in the best interest of […]
Litigation & Financial Considerations During COVID: How It Started, How It’s Going
Webinar length: 60 min. Addressing financial issues in a litigation matter, be it valuations, damages, or other financial aspects of the case – looked slightly different a year ago. Checking in a year later, we will reflect on what we knew then versus what we know now and how experts are taking COVID into consideration. Join our Forensic & […]
COVID-19: One Year Down – What’s Next for the Economy?
Webinar length: 60 min. We’ve arrived at the one-year mark of the global pandemic, but have we reached the peak of economic distress? As life rapidly changed, we adapted and took control of what we could. A year later we question, what’s next for the economy and what does it mean for businesses? On behalf of GBQ and Euler […]
PPP Deadline Extended, SBA Raises EIDL Loan Limit
PPP Deadline Extended to May 31, 2021 After a narrow vote, the U.S. Senate approved a bill to move the Paycheck Protection Program (PPP) application deadline from March 31, 2021 to May 31, 2021. The bill now goes to President Joe Biden for his signature. The PPP Extension Act extends the filing deadline for PPP applications by 60 days and […]
Updated Guidance on Employee Retention Credit and Navigating the Restaurant Revitalization Fund
Webinar length: 60 min. On March 1, 2021, the much-anticipated guidance on the Employee Retention Credit (ERC) was issued. Notice 2021-20 confirms and clarifies various aspects of the credit and includes several new detailed examples. It is anticipated that the new stimulus bill will become law later this week, which includes the Restaurant Revitalization Fund. The Restaurant Revitalization Fund […]