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Gallagher, Flynn & Company, LLP

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Recent Posts:

  • Tax Alert: Action Needed - Do You Have a PPP Loan? (Released 4/12/21)

  • Tax Alert: The IRS Provides Further Guidance on the Employee Retention Tax Credit (Released 4/5/21)

  • Tax Alert: President Biden Signs American Rescue Plan Act of 2021 (Released 4/11/21)

  • Tax Alert: Guidance Issued for Employers Claiming the Employee Retention Credit (Released 3/3/21)

  • Tax Alert: Liquidity Opportunities - PPP and Employee Retention Credit (ERC) (Released 2/23/21)

  • Tax Alert: Exclusive Access Period Coming to PPP (Released 2/23/21)

  • Tax Alert: SBA Releases Guidance PPP Second Draw Loans and Continued Access Program (Released 1/8/21)

  • Legislative Alert: Consolidated Appropriations Act, 2021 - ERC and PPP (Released 1/5/21)

  • Tax Alert: Action Needed - Do You Have a PPP Loan? (Released 4/12/21)

    An excerpt from an important alert from the  Lake Champlain Chamber follows:

    The House Ways and Means and Senate Finance Committees made changes to the language in H.315 in its final stages to tax PPP loans forgiven in tax year 2021. In short, if your PPP loan was forgiven in 2021, or has yet to be forgiven, you will be taxed on the amount of your loan as if it was business income.  Click Here for Full Text FOR FULL TEXT


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