It won’t count as income to employees, but they also won’t be able to deduct it.

In the midst of a global pandemic, the gravitational pull toward digital transactions has been amplified.

The institute released guidance on how to account for forgivable loans under the Small Business Administration’s Paycheck Protection Program.

As applications for the second wave of PPP loans move into the final phase, many businesses will be asking: What do I do next if I don’t secure this loan?

A fresh look at the Paycheck Protection Program suggests other ways businesses may want to think about it.

But the ability to ship booze will bring complexities — with state sales tax not the least of them.

President Donald Trump said he’ll ask Congress to pass more economic stimulus, including a payroll tax cut, even after the government reported a surprise improvement in U.S. unemployment on Friday.

The service issued guidance that levies a 21 percent excise tax on some nonprofit employees’ salaries above $1 million.

Small businesses have run into roadblocks trying to apply for PPP loans since the pandemic triggered mandatory closures.

The bill, which passed the House last week on a 417-1 vote, now heads to President Donald Trump’s desk for his signature.

The payroll provider has been partnering with accountants to help them secure loans for their small businesses.

Senate Majority Leader Mitch McConnell will attempt to expedite approval of changes to the popular Paycheck Protection Program aimed at giving small businesses more flexibility in using the money from the fund, according to Senate aides.

The latest update adds a loan forgiveness estimator and PPP-specific reports to QuickBooks Online, among other tools.

Has the Paycheck Protection Program outlasted its usefulness?

Two AGL CPA partners developed the tool to assist CPA firms and clients in navigating the Paycheck Protection Program.

Bill Smith, managing director of the National Tax Office of CBIZ MHM, discusses the loan forgiveness provisions of the PPP, along with the employee retention credit, net operating loss carrybacks and economic impact payments, along with the prospects for the next round of stimulus in Washington.

The House voted Thursday to give small businesses financially strapped by the COVID-19 crisis more flexibility to spend forgivable loans for payrolls and expenses from the government’s popular Paycheck Protection Program.

To better understand how the U.S. tax rules apply to virtual currency, one can view the many technical issues that arise as answering one of four questions.

The SBA’s form clarifies some issues, but still leaves questions to be answered.

Opponents like Sen. Ron Wyden claims the rules are politically motivated.