LeGlue & Company, CPAs, LLC

12/24/2021

Victims of Hurricane Ida in six states now have until February 15, 2022, extended from January 3, to file various individual and business tax returns and make tax payments, the Internal Revenue Service announced today.

IR-2021-254, December 22, 2021 — Victims of Hurricane Ida in six states now have until Feb. 15, 2022, extended from Jan. 3, to file various individual and business tax returns and make tax payments, the Internal Revenue Service announced today.

08/22/2021

Just a reminder that the application period for the CARES 2.0 relief funds is open for one more week. LDWF will accept applications through 11:59 p.m. Sunday, August 29, 2021. A total of $12.4 million is available to Louisiana fishermen and others in the industry who have been financially affected by the COVID-19 pandemic. Qualified applicants will receive direct aid payments from Gulf States Marine Fisheries Commission.

For more information about the program, and to access the application, go to: www.wlf.la.gov/page/cares-act-assistance.

The Louisiana Department of Wildlife and Fisheries is responsible for managing and protecting Louisiana’s abundant natural resources. The department issues hunting, fishing, and trapping licenses, as well as boat titles and registrations.

03/25/2021

The SBA is targeting early April to launch a phased rollout of the $28.6 billion Restaurant Revitalization Fund.

03/18/2021

The IRS announced that it is postponing the April 15 deadline for individual tax returns and payments. The postponement applies only to individual taxpayers. Formal guidance is expected in the near future.

03/17/2021

The U.S. House of Representatives voted 415-3 Tuesday night to extend the Paycheck Protection Program application deadline by 60 days. The PPP Extension Act of 2021 moves the PPP application deadline from March 31 to May 31 and allots an additional 30 days for processing applications received by May...

03/10/2021

The $1.9 trillion coronavirus relief bill that passed Congress contains many tax provisions, including changes to the child tax credit and many other credits, making certain unemployment benefits tax-free in 2020, and a $1,400 recovery rebate credit for many individuals.

03/04/2021

The IRS issued guidance on the employee retention credit in effect for qualified wages paid after March 12, 2020, through Dec. 31, 2020, including how it interacts with Paycheck Protection Program loans.

03/03/2021

The American Institute of CPAs, citing ongoing processing problems with the Paycheck Protection Program, called on Congress to extend the program’s application deadline past the current March 31 date. The AICPA is recommending an extension of at least 60 days.

01/11/2021

The new forms are Form 2483 for first-draw PPP loans and Form 2483-SD for second-draw PPP loans, which are available for previous PPP borrowers that need further assistance and meet eligibility requirements.

01/07/2021

The US SBA and Treasury released guidance for the revived and reconstituted Paycheck Protection Program. The guidance came in the form of two interim final rules, including one that details the guidelines for new PPP loans to businesses that previously received PPP funding.

12/23/2020

2021 standard mileage rates decrease - For business use of a car, van, pickup truck, or panel truck, the rate for 2021 will be 56 cents per mile after decreasing to 57.5 cents per mile in 2020, down from 58 cents per mile in 2019

The IRS issued the 2021 standard mileage rates for use in computing the deductible costs of operating an automobile for business, charitable, medical or moving expense purposes. The rates all decreased from 2021 to 2020.

12/22/2020

The $900 billion COVID-19 relief package passed Monday provides $284 billion for a revised Paycheck Protection Program (PPP) and clarifies that businesses can claim tax deductions for expenses paid for with forgiven PPP loans.