Cares Act

HHS Phase 3 Reporting Deadline Approaching
The CARES Act Provider Relief Fund (PRF), managed by the U.S. Department of Health and Human Services (HHS) in coordination with the Health Resources & Services Administration (HRSA), has distributed billions to qualified healthcare and dental professionals;...

HHS Phase 2 Reporting Deadline Approaching
The CARES Act Provider Relief Fund (PRF), managed by the U.S. Department of Health and Human Services (HHS) in coordination with the Health Resources & Services Administration (HRSA), has distributed billions to qualified healthcare and dental professionals;...

State of Arizona Conforms to Federal Tax Filing Deadline Extension
Yesterday afternoon, Arizona Governor Ducey signed SB1297, extending the deadline to file Arizona state individual income tax returns to Monday, May 17, 2021. The new date conforms to the federal individual income tax filing deadline extension announced by the...

Employee Retention Credit: Updates that Apply to 2021
The Employee Retention Credit, a payroll tax credit intended to incentivize the retention of employees by businesses hardest hit by the pandemic, is a provision in the CARES Act passed by Congress shortly after the onset of the COVID-19 pandemic in the United States....

Application Deadline Extended for Paycheck Protection Program (PPP)
On March 11, 2021 President Biden signed into law the $1.9 trillion American Rescue Plan Act of 2021. An additional $7.25 billion was allocated to the PPP, which was expanded to include underserved small businesses and other organization previously ineligible;...

IRS Issues Guidance on Federal Tax Filing Deadline Extension
Earlier this month, the Internal Revenue Service (IRS) announced a one-month extension for taxpayers to file their individual returns and pay 2020 federal taxes due without additional penalty. The new deadline of Monday, May 17th also applies to IRA, Roth IRA, and HSA...

Internal Revenue Service Extends 2020 Federal Tax Filing Deadline
Earlier today, the Internal Revenue Service (IRS) announced that the 2020 federal tax filing deadline for individual returns has been extended to Monday, May 17, 2021. This decision comes after pressure from The American Institute of CPAs and several...

The Latest Round of Stimulus: Impacts to You and Your Business
By Spencer Bunn, CPA, Price Kong & Co., CPAs, P.A.On March 11, 2021, President Joe Biden signed into law the $1.9 trillion American Rescue Plan Act of 2021 to address the continued effects of COVID-19 on the economy, public health, state and local governments,...

Senate Passes Massive Year-End Legislation, Providing Additional Economic Relief to Taxpayers and Small Businesses
On December 22, 2020, just one day after the House of Representatives approved the Consolidated Appropriations Act of 2021, the Senate voted in favor of the $2.3 trillion year-end legislation. The bill includes the Coronavirus Response and Relief Supplemental...

Time is Running Out to Apply for Maricopa County and Municipal Grants
Maricopa County and numerous municipalities are still accepting applications for business grants, administered by the Arizona Community Foundation, to assist small businesses and nonprofits that need financial assistance due to COVID-19 related losses. The following...