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Paycheck Protection Program Changes

President Joe Biden early Monday announced a series of changes to the Paycheck Protection Program designed to make the program more accessible to underserved borrowers. The changes:

IRS Wrongly Sent Notices That They Were Reducing Stimulus Payments

The Internal Revenue Service mistakenly sent letters to many taxpayers saying it would be reducing their Economic Impact Payments to pay off the taxes they owed.

Schedule LEP, Form 1040, Request for Change in Language Preference

The IRS has introduced Schedule LEP for the Form 1040 if either the taxpayer and/or spouse requests any potential future notices in a diff

COVID Tax Credit Extended for Employers Who Keep Workers on Payroll

The Internal Revenue Service urges employers to take advantage of the newly-extended employee retention credit, designed to make it easier for businesses that, despite challenges posed by COVID-19,

‘Submit Forms 2848 And 8821 Online’ Offers Contact-Free Signature

The Internal Revenue Service has rolled out a new online option that will help tax professionals remotely obtain signatures from individual and business clients and submit authorization forms elect

A Closer Look: Maximizing The EITC

The IRS published the latest executive column, “A Closer Look,” which features Sunita Lough, Deputy Commissioner

Paycheck Protection Program Excess Loan Amount Errors

The SBA has issued a procedural notice that clarified that borrowers who received loans in excess of the amounts that

ICYMI: Treasury Issues Millions of Second Economic Impact Payments by Debit Card

The Treasury Department and the Internal Revenue Service are sending approximately 8 million second Economic Impact Payments (EIPs) by prepaid debit card.

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