A Message from Mangold Anker Phillips
As Mangold Anker Phillips and our affiliates respond to both the viral threat of COVID-19 and its effects in the marketplace, our top priorities are the health and well-being of our clients, our team members and our community. Our other main priority is working together with you to meet the current economic, business and safety challenges you may be facing right now. In doing so, we have gathered a list of beneficial resources that focus on the COVID-19 crisis and we will frequently update this page as new information becomes available.
We are now ready to assist you with COVID relief applications. Please contact us here.
Legislative and Tax Resources:
- IRS Issues Guidance on Employee Payroll Tax Deferral
- Pending IRS Payments and Payment Notices
- FASB Offers Reprieve from Updated Lease and Revenue Recognition Rules
- New Law Retroactively Fixes QIP Drafting Mistake
- Increase to PPP Signed Into Law – released April 24, 2020
- IRS Grants Additional Tax Filing and Payment Relief for Individuals and Businesses
- IRS Filing Relief Expanded to Include Nonprofit Organizations
- Coronavirus Aid, Relief, and Economic Security (CARES) Act
- Nonprofit Highlights from the CARES Act and the Families First Coronavirus Response Act
- Families First Coronavirus Response Act
- AICPA State Tax Filing Guidance for Coronavirus Pandemic
- Extension of IRS Filing & Payment Deadline and Removal of Payment Limitation
SBA Loan Program Resources:
- PPP Loans: Proving Loan Necessity
- PPP Loans and Changes of Ownership Notice
- Paycheck Protection Program Loans FAQs – updated August 4, 2020
- Paycheck Protection Program Flexibility Act of 2020: Insights and Key Details
- AICPA Comparison Chart of COVID-19 Business Relief Options
- SBA Releases PPP Loan Forgiveness Application
- SBA Releases PPP Interim Final Rule on Loan Forgiveness
- SBA Clarifies Good Faith Certification For PPP Loan Recipients
- U.S. Treasury Paycheck Protection Program Loans FAQs – updated June 25, 2020
- Deadline Extended to May 14, 2020 for Repayment of PPP Loan Proceeds
- IRS Releases Guidance on Nondeductibility of Expenses Paid with PPP Loan Proceeds
- SBA Releases Additional Guidance, Including Repayment Option for Companies not Eligible for PPP
- Importance of Tracking Paycheck Protection Program Funds
- Interim Final Guidance from the SBA – released April 15, 2020
- THE CARES Act Paycheck Protection Program FAQ’s from April 6, 2020
- CARES ACT Accounting Best Practices
- U.S. Treasury Paycheck Protection Program Loans FAQs – released April 6, 2020
- Interim Final Guidance from the SBA as of April 3, 2020
- Paycheck Protection Program Application and Resources
- SBA COVID-19 Guidance & Loan Resources
- U.S. Chamber of Commerce Coronavirus Emergency Loans – Small Business Guide & Checklist
- SBA 7(a) Loan Program Items in the CARES Act
- SBA Offering Loans to Small Businesses Hit Hard by COVID-19
Paycheck Protection Program Calculators
- PPP Loan Forgiveness Calculator – as of June 24, 2020
- PPP Loan Calculator – Non-Seasonal & In Business 2/15/19 – 6/30/19
- This calculator will apply for most businesses that operated in 2019
- PPP Loan Calculator – Non-Seasonal & NOT in Business 2/15/19 – 6/30/19
- This calculator will apply for new businesses
- PPP Loan Calculator – Seasonal Business
- This calculator will apply for clients that don’t operate year-round
Government Resources:
- Employee Retention Credit under the CARES Act FAQs
- COVID-19 Related Tax Credits for Required Paid Leave Provided by Small and Midsize Businesses FAQs
- IRS Deferral of Employment Tax Deposits & Payments Through December 31, 2020 FAQs
- Families First Coronavirus Response Act: Questions & Answers from the Department of Labor
- IRS Coronavirus Tax Relief
- IRS Filing & Payment Deadlines Q & A’s
- Non-Filers: Enter Payment Information to Receive the Economic Impact Payment
Other Helpful Resources:
- City of Austin and Travis County COVID-19 Information
- City of Round Rock and Williamson County COVID-19 Information
- What Qualifies as a “Coronavirus-Related Distribution” From a Retirement Plan?
- IRS Issues Guidance on COVID-19 Distributions from Retirement Plans
- Tax-Favored QSBC for the COVID-19 Era and Beyond
- Family Business Tax-Saving Moves in the COVID-19 Era
- COVID-19 Crisis May Affect Tax Angles for Rental Property Losses
- Compliance in the Time of COVID-19 – Three Quick Tips
- Families First Coronavirus Response Act: Questions & Answers from the Department of Labor
- Navigating the Emotions of a Financial Crisis
- The Coronavirus and Market Declines
- COVID-19 Pandemic Poses Complex HR Policy Questions