CironeFriedberg is a leading CPA firm serving middle market, privately held and family owned businesses and high-net-worth
individuals. Our experienced staff provides a full range of tax, audit and accounting, and business advisory services in Connecticut and neighboring Dutchess, Putnam, and Westchester counties in New York.
The Internal Revenue Service is warning taxpayers that if they mailed checks (either with or without tax returns), the checks may still remain unopened in the backlog of mail the IRS is processing due to COVID-19. Any payments received will be posted as of the date the IRS receives them, rather than the date they are processed. To avoid penalties […]Read More
On August 4th, the SBA issued additional guidance on the PPP loan forgiveness calculations in the form of a FAQ sheet. Click here to access the full SBA document. We have highlighted some of the key points below. General Sole proprietors, independent contractors, or self-employed individuals with no employees (no employees at the time of application as well) should complete the Loan Forgiveness […]Read More
Do you run a company with an at-home workforce, leaving you with employees now working in another state? Are you such an employee yourself? You may be facing some tax confusion. Having some basic understanding of what happens will help businesses make the right decisions about classifying wages and avoiding penalties or amended filings later. Employees also want to avoid […]Read More
Has your Company achieved full forgiveness of your Paycheck Protection Program (PPP) and you are left wondering, now what? You are not alone, and experts are saying there is no rush to apply for forgiveness either. The SBA has not yet updated the loan forgiveness applications to reflect the 5-week application deadline to August 8th, nor have the FAQs been […]Read More
The coronavirus pandemic has had various effects on not-for-profits including Paycheck Protection Program (PPP) issues, budgeting issues, and even accounting challenges. Following are some issues for not-for-profit preparers, auditors, and board members to keep in mind as their organizations work to chart their course in this challenging environment. PPP Loan Forgiveness Documentation is key in PPP forgiveness. The expansion of the […]Read More
The pandemic has affected both employers and employees, and everyone is trying to figure out how to work under new situations and new rules. The Fair Labor Standards Act, the Family and Medical Leave Act and the Families First Coronavirus Response Act are all governing workplace rights and responsibilities, and the new DOL guidance will help everyone understand them. Here […]Read More