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The Louis Plung Blog

Find out about the latest news and trends …

3003, 2021

Challenges of Working Remotely for CPAs

Categories: Blog, Covid-19|

In a recent article on PICPA’s CPA Now blog, Lora L. Bahrey-Ament and Kevin Wilkes discuss the challenges CPAs face in a remote environment. A preview of the article is below. As COVID-19 vaccinations continue to roll out, many employers are pondering an imminent return to the physical office. Still,

2303, 2021

New PPP Loan and Employee Retention Credit Guidelines

Categories: Blog|

In a recent article on PICPA's CPA Now, Anthony Montanaro and Kevin Wilkes discuss the recent PPP changes and updated employee retention guidelines. A preview of the article is below. On March 3, 2021, the Small Business Administration (SBA) issued an Interim Final Rule that changed the PPP loan calculation

1803, 2021

IRS Announces Individual Tax Deadline Extension

Categories: Blog|

For the second year in a row, the federal income tax filing due date for individuals has been postponed. The postponements come as a part of the fallout of the coronavirus pandemic and the legislation that has resulted from it, which has added complexity to tax filings and systemic strain

803, 2021

American Rescue Plan Act

Categories: Blog, Covid-19|

The American Rescue Plan Act (ARPA) was passed by the Senate on Saturday, March 6 and in the House on Wednesday, March 10. The $1.9 trillion relief bill now heads to President Biden’s desk. He signed the bill into law on Thursday, March 11. Read on for details on

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

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