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In addition to November 10th being National Accountants Day and National Cupcakes Day, the IRS has also decided to add National EIP (Economic Impact Payment) Day to this list.
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The SBA recently released news that large PPP Loan borrowers (businesses receiving loans of $2 million and above) must now complete forms on the necessity of the loan. SBA Form 3509 is for For-Profit borrowers and SBA Form 3510 is for Non-Profit borrowers.

Mallory Vincent, MBA •

With the holiday season approaching, tis the season for spreading kindness and being charitable. During the coronavirus pandemic, even more people and animals are in need, but many not-for-profits are struggling. By making a donation and giving a gift to charity, you are helping out others and spreading holiday cheer. This act of kindness could also be a great tax write-off, and in 2020 everyone will be eligible to receive a charity tax deduction on their tax return. Read on to learn some tips on how to make your donation count as a tax benefit on your 2020 tax return.
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Last week the IRS released guidance on how to report the deferral of withholding, deposits, and payments of certain payroll tax obligations.