COVID-19 News

PPP Loan Forgiveness FAQ

SBA and Treasury issue FAQ for PPP Loan Forgiveness On Tuesday, August 4, 2020, the Small Business Administration and Treasury released a new set of Frequently Asked Questions (FAQs) regarding the forgiveness of Paycheck Protection Program (PPP) loans. These FAQs are intended to address loan forgiveness concerns facing borrowers and lenders. The 10-page document provides…

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Ohio State and Local Tax Updates August 2020

Ohio revises sales tax sourcing requirements The Ohio Dept. of Taxation has revised its sales tax sourcing requirements. Marketplace facilitators must now source the sales they facilitate to the location where the consumer receives the property or service. This rule doesn’t apply to the sales of titled motor vehicles, titled watercraft, or titled outboard motors….

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Georgia State and Local Tax Updates August 2020

Georgia FRC develops tool to view sales tax distribution changes year over year Georgia State University’s Fiscal Research Center (FRC) has developed an online interactive data tool that allows users to view year-over-year changes in sales tax distributions at the county, regional or state level from January 2016 through June 2020. The data shows that…

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Avoid Early Retirement Account Withdrawal Penalties

How to Avoid Penalties on Early Retirement Account Withdrawals Economic fallout from the COVID-19 crisis may cause some cash-strapped individuals to default on loans they’ve taken out from company qualified retirement plans, including 401(k) and profit-sharing plans. Defaulting on a plan loan will cause adverse tax and retirement-saving consequences. Here are the details. Retirement Plan…

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Georgia State and Local Tax Updates July 2020

Georgia: TAVT collected during July subject to distribution under new methodology The Motor Vehicle Division (MVD) of the Georgia Dept. of Revenue has issued a notice to tag offices and local governments that all Title and Ad Valorem Tax (TAVT) collected during July will be subject to distribution under a new methodology. Accordingly, the first…

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