Whalen CPAs: Blog

Discover Our Thoughts on Important Accounting Topics.

We understand that constantly changing tax laws can get confusing. That is why we keep our blog updated on tax policies that could affect the life and business of our clients. If you have any questions regarding an article featured on our blog, please contact the experts at Whalen CPAs for more information. Want info delivered right to your inbox –  Subscribe Now
PPP Application Window Extended to August 8
President Trump signed a bill Saturday re-opening the application window for the Paycheck Protection Program (PPP) until Aug. 8.  
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Updates on PPP Recipients and IRS Facility Openings
There have been important updates from the SBA and the IRS this week that we wanted to pass along to
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Balance Due Notice Mailings: Due Dates Extended to Help Taxpayers
Due to the COVID-19 pandemic, the IRS was unable to mail some previously printed balance due notices as a result
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Good records are the key to tax deductions and trouble-free IRS audits
If you operate a small business, or you’re starting a new one, you probably know you need to keep records
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Economic Impact Payments Sent on Prepaid Debit Cards
As more Economic Impact Payments continue to be sent out, the IRS has notified taxpayers that some payments are being sent
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PPP – Two Interim Rules Issued By SBA On Friday, May 22
The SBA issued two interim final rules last Friday, May 22 addressing PPP loan forgiveness, loan review procedures, and borrower
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SBA Issues PPP Loan Forgiveness Application & Detailed Instructions
On Friday, May 15th, the SBA issued the Loan Forgiveness Application that will be used by PPP borrowers to determine
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SBA Issues Interim Final Rule on Loan Increases
The SBA issued an interim final rule on Wednesday related to possible PPP loan amount increases. Some PPP loans were
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PPP Good Faith Certifications for Loans Less Than $2 Million
The SBA and U.S. Department of the Treasury published an updated PPP FAQ document today including a new #46 (see below). It provides
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IRS Explains How Ineligible Taxpayers Should Return Stimulus Payments
The IRS has posted information on how people who weren't supposed to receive their economic impact payments for the coronavirus
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PPP Safe Harbor Date Extended to May 14
The SBA and U.S. Department of the Treasury published FAQ 43 yesterday that extended the safe harbor loan prepayment date from
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Trump Signs Additional Small Business Coronavirus Relief Bill
President Trump has just signed a $484 billion interim coronavirus bill into law that includes additional money for the small-business loan program,
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