Paycheck Protection Program (PPP)
This is an SBA loan that helps businesses keep their workforce employed during the COVID-19 crisis. Lenders may begin processing these loans as soon as
This is an SBA loan that helps businesses keep their workforce employed during the COVID-19 crisis. Lenders may begin processing these loans as soon as
The economic downturn and public health crisis has hit as many firms and individuals are completing tax returns for the 2019 tax year. The IRS
Amounts of Small Business Administration Section 7(a)(36) guaranteed loans that are forgiven under the CARES Act aren’t taxable as discharge of indebtedness income if the
Taxpayers (including self-employed individuals) will be able to defer paying the employer portion of certain payroll taxes through the end of 2020, with all 2020
Eligible employers can qualify for a refundable credit against, generally, the employer’s 6.2% portion of the Social Security (OASDI) payroll tax (or against the Railroad
Required minimum distributions that otherwise would have to be made in 2020 from defined contribution plans and IRAs are waived. This includes distributions that would
The additional 10% tax on early distributions from IRAs and defined contribution plans is waived for distributions made between January 1 and December 31, 2020
To help individuals stay afloat during this time of economic uncertainty, the government will send up to $1,200 payments to eligible taxpayers and $2,400 for
The IRS has provided tax payment relief for any person with a federal income tax payment due April 15. On March 13, 2020, the President
Newsom and Associates PA
12740 Atlantic Blvd
Suite 7
Jacksonville, FL 32225
Hours of Operation
Mon-Fri: 8:00am-5:00pm
Sat-Sun: By Appointment
Tel: (904) 320-0572
Fax: (904) 320-0576