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The Louis Plung Blog

Find out about the latest news and trends …

1602, 2021

Congress Has Authorized a Second Round of PPP Loans

Categories: Blog|

Congress passed, and President Trump signed, the Consolidated Appropriations Act, 2021. Included in its approximately 5,600 pages is a second draw of forgivable Paycheck Protection Program (PPP) loans. The first round allowed loans to businesses with 500 or fewer employees and to certain businesses with multiple locations, for which each

1602, 2021

How Biden’s Rescue Plan Might Impact Your Taxes

Categories: Blog|

President Biden released his “American Rescue Plan” on January 14. It is a wish list of proposals he wants Congress to enact to address the COVID-19 pandemic and associated economic crisis. While some of the proposals are intended to be in effect for just one year, it isn’t too great

1602, 2021

How to Address Rising Tax Problems During COVID-19

Categories: Blog|

COVID-19 has caused the death of over 300,000 people. There have been nearly 19 million reported cases in the United States. COVID-19 has touched nearly every aspect of the lives of every American. It has even affected finances for most Americans as well, creating waves of economic stress. It will

1602, 2021

Finally, The COVID Relief Package Is Law

Categories: Blog|

After several months of the Republicans and Democrats not being able to agree on additional COVID-related tax relief and other matters, as 2020 was coming to an end, horses were traded, and deals were made so that Congress could put together the much-needed legislation. The result is a nearly 5,600-page

802, 2021

Louis Plung & Company Announces New Principal

Categories: Blog|

PITTSBURGH, PA – The Pittsburgh accounting and consulting firm Louis Plung & Company (LPC) is pleased to announce that Kevin Wilkes, JD has been promoted to principal. Wilkes joined the firm in 2020, bringing with him 12 years of experience in mergers and acquisitions tax and tax consulting. He spent

2701, 2021

Changes to the Employee Retention Credit Greatly Expand Eligibility for Businesses

Categories: Blog, Covid-19|

The recently passed Consolidated Appropriations Act (“CAA”) contains retroactive changes and expansions to the Employee Retention Credits (“ERC”) that make these previously underutilized tax credits now potentially very lucrative for many small businesses. As explained in more detail below, three main retroactive changes in the CAA making the ERC applicable

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