Rich Weber

About Rich Weber

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So far Rich Weber has created 189 blog entries.
24 06, 2020

The Impact of the CARES Act on NOLs

By |2020-06-25T17:19:46+00:00June 24th, 2020|COVID-19, Tax and Auditing|Comments Off on The Impact of the CARES Act on NOLs

In addition to providing economic relief to individuals and loans to businesses struggling during the coronavirus crisis, the Coronavirus Aid, Relief, and Economic Security (CARES) Act changed some tax provisions to ensure firms survive a [...]

8 06, 2020

Paycheck Protection Program Flexibility Act of 2020 – HR 1070

By |2020-06-08T19:21:28+00:00June 8th, 2020|COVID-19, Small Business, Sousa & Weber News|Comments Off on Paycheck Protection Program Flexibility Act of 2020 – HR 1070

The Paycheck Protection Program Flexibility Act (HR 7010) was signed into law on June 5, 2020.  We thought it would be helpful to share what we have gleaned from the bill so that you can [...]

13 05, 2020

SBA’s Guidance on PPP and Employee Refusal to be Rehired

By |2020-05-13T21:40:32+00:00May 13th, 2020|COVID-19, Tax and Auditing|Comments Off on SBA’s Guidance on PPP and Employee Refusal to be Rehired

The team at Sousa & Weber have had several inquiries related to employee layoffs and rehires with respect to the Paycheck Protection Program (PPP). Some employers are finding it difficult to get hourly employees to [...]

4 05, 2020

IRS Guidance for Accounting for PPP Loans

By |2020-05-13T21:59:12+00:00May 4th, 2020|Accounting Tips, COVID-19, Sousa & Weber News, Tax and Auditing|Comments Off on IRS Guidance for Accounting for PPP Loans

The IRS has issued new guidance related to the accounting for PPP loans in Notice 2020-32.  The IRS’ position is that while loan forgiveness is excluded from gross income, the expenses that resulted in qualification [...]

24 03, 2020

Updated 2019 Tax Filing & Payment Dates

By |2020-05-13T21:59:31+00:00March 24th, 2020|Corporate Tax, COVID-19, Individual Income Taxes, Tax and Auditing|Comments Off on Updated 2019 Tax Filing & Payment Dates

Just a reminder that the Federal income tax filing deadline for 2019 individual and business income tax returns has been automatically extended from April 15, 2020, to July 15, 2020.  Taxpayers can also defer Federal income tax [...]

25 02, 2020

Impact of New Ruling on Drop and Swap Exchanges

By |2020-02-25T23:04:24+00:00February 25th, 2020|Corporate Tax, Legal Issues|Comments Off on Impact of New Ruling on Drop and Swap Exchanges

Great news for business owners in California: As of January 28, 2020, the Franchise Tax Board’s Office of Tax Appeals (OTA) denied the appeal of Sharon Mitchell case that would prevent “drop and swap” exchanges. [...]

29 01, 2020

What You Need to Know About Multi-State Income Taxation

By |2020-01-31T22:19:10+00:00January 29th, 2020|Corporate Tax, Individual Income Taxes, Tax and Auditing|Comments Off on What You Need to Know About Multi-State Income Taxation

Filing state income tax returns is usually uncomplicated if you live and work in the same state during the entire calendar year, and have no income sourced from a state other than the state in [...]

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