As it does each year, the IRS has announced changes for health savings accounts (HSAs), which are associated with high-deductible health plans. HSAs Explained As explained by the IRS, “A Health Savings Account (HSA) is a tax-exempt trust or custodial account...
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New Version of Form 7200 Needed to File for Second Quarter 2021 Credits
The IRS is asking employers to wait until the newest version of Form 7200 (Advance Payment of Employer Credits Due to COVID-19) is available before submitting it for the second quarter of 2021 because the existing January 2021 version of the form was not designed for...
SBA Stops Accepting PPP Loan Applications
In early May, the Small Business Administration (SBA) announced it has stopped taking new PPP loan applications from most lenders due to the general fund for PPP loans being out of money. The agency will continue to process outstanding loan applications as it has set...