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So far dhamaster has created 20 blog entries.

Understanding the Business Suspension Qualification for the 2020 ERC

The IRS has released the follow Q&A article to help businesses determine if they were fully or partially suspended due to government order, and would therefore be eligible for the retroactive 2020 Employee Retention Credit. This FAQ is not included in the Internal Revenue Bulletin, and therefore may not be [...]

2020-12-30T16:00:18-06:00December 30th, 2020|

Retroactive Employee Retention Credit (ERC) for 2020

The Consolidated Appropriations Act that the President just signed into law GREATLY enhances the Employee Retention Credit (ERC) that was created under the CARES act. Under the new stimulus bill the ERC is improved in different ways for 2020 and for 2021. We will share information on the 2021 ERC [...]

2020-12-28T10:59:24-06:00December 28th, 2020|

December COVID Relief Bill Highlights

The long awaited second COVID stimulus bill is here, and there’s a lot to unpack.  Here’s a quick overview of the highlights, we’ll be sharing more details on specific programs as more information becomes available. Stimulus Payments $600 for individuals and $1,200 for married couples filing jointly, plus $600 for [...]

2020-12-28T09:41:58-06:00December 28th, 2020|

PPP Forgiveness Math Deep Dive

We still do not have the final SBA rules on how the forgiveness provisions will work, but we do have the statue to give us some level of guidance.  Here is a detailed look at the forgiveness math, as best we know it.  (The key terms are defined further down, [...]

2020-11-02T11:22:53-06:00May 8th, 2020|

PPP Loan Forgiveness Q&As

Many businesses that applied for PPP loans during the first wave of funding have either received those funds or will be receiving them shortly.  If that scenario sounds familiar, now is the time to make sure you understand how PPP loan forgiveness works.  While we are still waiting for the [...]

2020-11-02T11:22:02-06:00May 8th, 2020|

MN Sales and Use Tax Grace Period Extended for Closed Businesses

As the state continues to respond to COVID-19, the Minnesota Department of Revenue is extending the Sales and Use Tax grace period on Sales and Use Tax payments for businesses identified in Executive Order 20-04. The department will not assess penalties or interest as follows: Identified businesses with a monthly [...]

2020-11-02T11:21:33-06:00April 10th, 2020|

DHA Office Closure Extended

In compliance with Minnesota's extended Stay-At-Home order, we have extended our temporary office closure through May 1st, 2020.  We look forward to re-opening the office to clients and staff on Monday, May 4th.  During the office closure our entire staff is continuing to work remotely and we remain available to [...]

2020-11-02T11:20:28-06:00April 10th, 2020|

Families First Coronavirus Response Act – Legislative Update

The Families First Coronavirus Response Act (FFCRA) was signed into law on March 18th 2020, and went into effect on Wednesday, April 1st. The FFCRA requires covered employers to provide their employees with paid sick leave or expanded family and medical leave for specified reasons related to COVID-19. At DHA, [...]

2020-11-02T11:20:00-06:00April 2nd, 2020|

Paycheck Protection Program: Applications Open April 3 for Small Businesses, Sole Proprietorships

The U.S. Treasury Department released information on the assistance available for small businesses through the recently enacted CARES Act. Small businesses and sole proprietorships affected by the COVID-19 pandemic can apply for loans under the Paycheck Protection Program starting April 3. Independent contractors and self-employed individuals can apply starting April [...]

2020-11-02T11:19:15-06:00April 2nd, 2020|

IRS Announces People First Initiative

To help people facing the challenges of COVID-19 issues, the Internal Revenue Service has announced a sweeping series of steps to assist taxpayers by providing relief on a variety of issues ranging from easing payment guidelines to postponing compliance actions.  These new changes include issues ranging from postponing certain payments [...]

2020-11-02T11:18:39-06:00March 27th, 2020|