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05/06/2025

https://www.nfib.com/news/analysis/small-business-victory-on-beneficial-ownership-reporting/?utm_source=eNews-TN&utm_medium=email&utm_campaign=eNews04032025&utm_content=httpswwwnfibcomnewsanalysissmallbusinessvictoryonbeneficialownershipreporting&mkt_tok=NDgzLVNZTS0wNDkAAAGZnDdaqk1OEYNB_6T2Z8H7WverE5FEx0Q2O4mP5paHrN6r-vI7CjFdgufA1LjyBptkz9bkMP4s7zsAjI9MWwYAu1Ssn_qbf_UAKYMp4eAQahE

The U.S. Treasury issued a new regulation that exempts all U.S. small businesses from the Beneficial Ownership Information (BOI) reporting requirements.

09/27/2024

04/27/2022

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12/28/2020

New PPP Loans Available

On December 27, 2020, the President signed legislation to reopen the Paycheck Protection Program (PPP), with over $284B available in forgivable PPP loans. First-time borrowers must have 500 or fewer employees and meet other eligibility criteria. In addition, second PPP loans are available to businesses that received a PPP loan previously if they have 300 or fewer employees and meet other eligibility criteria. Visit www.adp.com/ppp for more details. PPP loans are available until March 31, 2021, or until all allocated funds are disbursed.

www.adp.com/ppp

New PPP Loans Available: On December 27, the President signed legislation to reopen the Paycheck Protection Program (PPP), with over $284B available in forgivable PPP loans. First-time borrowers must have 500 or fewer employees and meet other eligibility criteria. In addition, second PPP loans are a...

12/09/2020

There is a new Form 1099-NEC, Nonemployee Compensation for business taxpayers who pay or receive nonemployee compensation.

Starting in tax year 2020, payers must complete this form (instead of previously used Form 1099-MISC) to report any Non Employee Compensation payments of $600 or more to a payee.

The 1099-NEC is used strictly for reporting independent contractor payments of $600 or more in the course of your trade or business. You will still be required to use the 1099-MISC for such items as royalties, rent, and healthcare payments.

10/14/2020

SBA settles confusion over PPP forgiveness application due date

Fears of a late-October PPP surprise came to the SBA’s attention because the program’s loan forgiveness application forms display an expiration date of “10/31/2020” in the upper-right corner.

10/14/2020

SBA Settles confusion over PPP forgiveness application due date

Fears of a late-October PPP surprise came to the SBA’s attention because the program’s loan forgiveness application forms display an expiration date of “10/31/2020” in the upper-right corner.