Episode 6: State of the IRS, Stimulus Payments to the Deceased and PPP Loan Update

In this episode, I talk about the current state of the IRS (such that it is), some guidance on handling stimulus checks for deceased taxpayers, and an update on PPP loans (some good material on the economic uncertainty certification and if an employee refuses to come back to work).

Marcum, LLP is a large regional accounting firm in New England. They have been very active in putting out good information regarding PPP loans and here is a link to the article which discusses what your company can do to show it meets the certification requirement: https://www.marcumllp.com/insights/evaluating-the-current-economic-uncertainty-certification-on-your-payroll-protection-program-loan-application

Also, here is a link to the SBA website where you can read frequently asked questions about PPP loans. I think #31, #37 and #39 are very relevant to the economic uncertainty question. FAQ #40 has some good guidance on dealing with an employee who refuses to come back to work and its impact on PPP loan forgiveness. Link is here: https://www.sba.gov/document/support--faq-lenders-borrowers

If you or someone you know has a tax problem, call our office at 207-502-7181 or email us at jwade@jdwadelaw.com. We will be glad to help you. Otherwise, please enjoy our content and let us know if there are topics you'd like us to discuss.