On Friday June 5th, 2020, the Protection Program Flexibility Act (PPPFA) was signed into law, which attempts to address certain concerns from the original Paycheck Protection Program (PPP).
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Dear Clients and Friends, We, at CJBS, understand the strain that debt can put on a business, even at the best of times. With many businesses now dependent on PPP loans to meet payroll costs, we know that the complex forgiveness calculation can feel overwhelming. That’s why we are on hand to help you manage […]
In recent weeks, we’ve heard a lot about the need to protect “essential businesses” as they are defined by the federal government. At CJBS, all of our clients are essential businesses, because every business is essential to the employees who depend on it to meet their basic needs.
The Treasury Department and IRS have announced that distribution of economic impact payments, made as part of the CARES Act, will begin in the next three weeks and will be distributed automatically, with no action required for most people.
Dear Clients and Friends, The IRS has published frequently asked questions on the employee retention credit that is contained in the CARES Act. Background. The CARES Act provides a refundable payroll tax credit for 50% of wages paid by eligible employers to certain employees during the COVID-19 crisis. The credit is available to employers, including non-profits, whose […]
The passing of the CARES Act on Friday provides relief to small businesses through programs administered by the Small Business Administration (SBA) and other important provisions for relief to individual taxpayers.