Entries by Kuberneo CPA Editor

Helpful Links Related to COVID-19

Even before this strange season we find ourselves in, KuberneoCPA has sought to provide assistance and helpful resources to our clients. When the COVID-19 crisis first began, we quickly established our resource center. As the volume of resources has grown, we thought it might be useful to aggregate a few of the links we’ve shared […]

Fintech Companies Provide PPP Loan Options

As a small business ourselves, we understand many of the the difficulties COVID-19 has presented, many of which are financial. Gratefully, the government’s response to the coronavirus pandemic has included providing financial aid to small businesses. One of the most well-known and highly-utilized mechanisms is the Payroll Protection Program (PPP), which helps small businesses secure […]

New PPP Forgiveness Forms

The Departement of Treasury and the Small Business Administration (SBA) this week announced a revised, borrower-friendly simplified loan forgiveness application form to supplement the more robust (and complicated) Form 3508. This is good news for smaller borrowers, as it greatly simplifies the application process and potentially increases the likelihood of full loan forgiveness. The new […]

New Safe Harbor Deadline to Return PPP Funds

The U.S. Small Business Administration (SBA) has extended the “safe harbor” deadline to return unqualified PPP funds to May 14. That means companies can return the funds before that date without penalty. If your organization received a Paycheck Protection Program (PPP) loan and you have now determined that you don’t meet the requirements for “economic […]

PPP and EIDL Funds Replenished

On April 23, 2020, Congress passed the Paycheck Protection Program and Health Care Enhancement Act. This bill allocates a combined $370 billion of additional funding for the Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) programs to assist businesses affected by the economic impacts of COVID-19. It is widely assumed that these newly […]

UPDATED 5/22/2020–Where’s My Stimulus Payment??

Most Recent Update – 5/22/2020 The IRS has announced that some stimulus payments may be sent on a prepaid debit card known as The Economic Impact Payment Card instead of paper checks. If you receive an Economic Impact Payment Card, it will arrive in a plain envelope from “Money Network Cardholder Services.” The Visa name […]

Extended Deadlines and Other Updates

Normally at this time, we’d be sending our clients a reminder that taxes are due. Instead, we have announcements about extended deadlines and loans to help bridge the gap during this unique time. Extended deadlines The new relief, issued by the IRS in Notice 2020-23, applies to all taxpayers that have a filing or payment […]

EIDL Loan advances will start to be distributed this week

We recently posted about the Payroll Protection Program (PPP). Its predecessor, the Economic Injury Disaster Loan (EIDL), offers similar but perhaps broader benefits, in the form of a loan. They work hand in hand. And the best news, EIDL Loan advances/distributions are expected to start this week! Originally, announcements and guidance seemed to indicate that […]

Now Available – COVID-19 Resource Page

It’s a new week and we have new resources for you as well as some updates from last week. NEW Resource – KuberneoCPA website: COVID-19 New information is being released and updated daily, sometimes hourly, regarding assistance programs and how to qualify for each. We have created a COVID-19 resource page on our KuberneoCPA website […]