SBA Clarifies Due Date of PPP Forgiveness Applications
On October 13, the U.S. Small Business Administration (SBA) released clarifying guidance regarding the due date of forgiveness applications for loans issued via the Paycheck Protection Program (PPP). A recent article from the Journal of Accountancy offers an overview of the controversy surrounding the issue. Many borrowers were surprised to find that the PPP loan…
SBA and Treasury Release New PPP Waiver
On October 8, the U.S. Small Business Administration (SBA) and the Treasury announced the release of a simplified forgiveness process for Paycheck Protection Program (PPP) participants that received loans of $50,000 or less. The agencies published a new interim final rule offering guidance for recipients of PPP loans equal to or less than $50,000 (“eligible…
HRC Announces New Senior Accountant
HRC is pleased to welcome Lynette Margetts, CPA back to their professional team. Margetts initially joined HRC in 2007, bringing with her over a decade of valuable experience. She spent 12 years on the HRC team before accepting an opportunity outside of the firm in 2019. She now returns to the firm as a senior…
HRC Named Among IPA’s List of the Best of the Best Public Accounting Firms
HRC is pleased to announce that the firm was recently named among INSIDE Public Accounting’s (IPA) list of the Best of the Best public accounting firms in the nation for 2020. “We are incredibly excited to be included on IPA’s Best of the Best list,” said Jacqueline Matthew, CPA, principal at HRC. “I am thrilled…
IRS Issues Guidance Regarding Payroll Tax Deferral
On Friday, August 28, the Internal Revenue Service (IRS) released Notice 2020-65, which offers guidance regarding the implementation of the Presidential Memorandum on the deferment of some payroll taxes. The memorandum, which was released by the President on August 8th, called for a deferral of the employee share of social security tax (or the railroad…