Paycheck Protection Program

As you probably know, the Coronavirus Aid, Relief, and Economic Security Act (CARES) was signed on March 27, 2020.  The $2 trillion package includes $349 billion for a loan program called the Paycheck Protection Program (PPP). This is an unprecedented program both in...

Who needs a 1099?

Let’s start by explaining what it is. A 1099 is an informational return that is used to tell the IRS who paid whom, and how much they were paid. If XYZ Corporation hires Joe the Independent Landscaper to mow the company golf course, then the IRS wants to know...