Registration Now Open For Restaurant Revitalization Fund

The U.S. Small Business Administration launched the registration portal for the $28.6 billion Restaurant Revitalization Fund (RRF) on April 23, and is now accepting applications for the program. Restaurants and other food providers hard-hit during the COVID-19 pandemic have been anxiously awaiting direct aid to help them recover after more than a year of government-imposed closures and […]

Read more

2020 TAX DEADLINE DELAYED FOR INDIVIDUALS

April 6, 2021 On March 17, the IRS announced that the federal income tax filing deadline for individuals will be automatically extended from April 15, 2021 to May 17, 2021. However, if you will be receiving a refund, you are encouraged to file before that date so that you can receive your tax refund as […]

Read more

Oller Abogados joins IR as the exclusive Administrative Law Member in Costa Rica

IR Global, the world’s largest exclusive network of advisory firms is delighted to introduce Roberto Esquivel of Oller Abogados. Roberto has joined IR as our exclusive Administrative Law member in Costa Rica. Roberto is Partner and Director of the Public Law practice group at Oller Abogados. He has ample experience in procurement and public contracting, […]

Read more

Roberto Esquivel

Partner and Director, Oller Abogados

Tax Filing Season To Begin February 12

The IRS has announced that it will begin accepting and processing 2020 tax returns on Friday, Febrary 12, 2021. This is later than the usual January starting date. The IRS says that the delay is due to extra time that was needed to program and test its computer systems after the the passage of the Consolodated […]

Read more

Updated PPP Loan Forgiveness Applications Released

The Small Business Administration (SBA), and the Treasury Department have published updated Paycheck Protection Program (PPP) loan forgiveness guidance and forms, including a one-page form that borrowers who received no more than $150,000 can use to apply for forgiveness. The newly released form, called the PPP Loan Forgiveness Application Form 3508S, can be used by […]

Read more

Possible Pandemic Tax Surprises

The ongoing coronavirus pandemic has caused a lot of disruption in people’s lives. Some have lost jobs, others have started side jobs, and coronavirus relief has changed the tax laws for everyone. With this in mind, we wanted to share some possible surprises that might be waiting for you on your 2020 tax return. Take […]

Read more

New Covid-19 Relief Bill Signed Into Law

On December 27, President Trump signed into law the COVID-19 relief bill that was passed by Congress on December 21, 2020. The legislation, the Consolidated Appropriations Act, 2021, extends weekly benefits for unemployed workers, and provides more than $300 billion in aid for small businesses. It also ensures tax deductibility for business expenses paid with […]

Read more

New Round Of Ppp Loans Authorized By Congress

Part of the Consolidated Appropriations Act, 2021, signed into law on December 27, 2020, authorizes another round of Paycheck Protection Program (PPP) loans for small businesses. This new round of PPP loans, being called “PPP2” by some, is similar to the first round of PPP loans that were authorized early in 2020, but there are […]

Read more

New Law Permits Deduction Of Ppp Expenses

The Consolidated Appropriations Act, 2021, signed into law on December 27, 2020, specifies that business expenses paid with forgiven PPP loans are tax-deductible. This supersedes previous IRS guidance which stated that these expenses could not be deducted. The Appropriations Act clarifies that “no deduction shall be denied, no tax attribute shall be reduced, and no […]

Read more

New Round Of Stimulus Payments Authorized

The Consolidated Appropriations Act, 2021, which was signed into law on December 27, 2020, directs the Department of the Treasury to deliver additional Economic Impact Payments (known more popularly as “stimulus payments”) to U.S. citizens and residents. These payments are generally $600 for singles and $1,200 for married couples filing a joint return. In addition, […]

Read more

Six Ideas To Lower Your Taxes This Year

As we approach the end of the year, there’s still time to reduce the taxes you owe in 2020. Here are six ideas that can save money for many taxpayers. 1. Leverage pre-tax savings Be sure to take advantage of opportunities to set aside income on a pre-tax basis. Some examples of these opportunities include: […]

Read more