Updated: Tax Deadline for Individuals Extended to May 17, 2021

The Treasury Department and Internal Revenue Service announced on March 17th that the federal income tax filing due date for individuals for the 2020 tax year will be automatically extended from April…

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SBA to Begin Restaurant Revitalization Fund Rollout in Early April

The U.S. Small Business Administration (SBA) is targeting early April to launch a phased rollout of the $28.6 billion Restaurant Revitalization Fund (RRF). Eligible expenses are those incurred from February…

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IRS Reminds Taxpayers of Recent Changes to Retirement Plans

The Internal Revenue Service reminds taxpayers about the rules for required minimum distributions (RMDs) from retirement accounts. A retirement plan account owner must normally begin taking an RMD annually…

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IRS Says All Stimulus Checks Thus Far Have Been Sent. What If You Didn’t Get One?

The IRS said that it has issued all of the coronavirus relief checks that it is legally permitted to disburse and that people who haven’t received the full amount to which they are entitled can claim a…

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IRS Provides Greater Flexibility for Health FSAs & Dependent Care Assistance Programs

The Internal Revenue Service provided greater flexibility, due to the pandemic, to employee benefit plans offering health flexible spending arrangements (FSAs) or dependent care assistance programs. Under…

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Employee Retention Credit Extended for Employers Who Keep Workers on Payroll

The Internal Revenue Service urges employers to take advantage of the newly-extended employee retention credit, designed to make it easier for businesses that, despite challenges posed by COVID-19, choose…

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PPP Second Draw Loans

The Paycheck Protection Program (PPP) now allows certain eligible borrowers that previously received a PPP loan to apply for a Second Draw PPP Loan with the same general loan terms as their First Draw…

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Haefele Flanagan and Trilogy Partners Announce New Affiliation

(January 12, 2021 – Maple Shade, NJ and Yardley, PA) Haefele Flanagan, an expert accounting and advisory firm, and Trilogy Partners, a business consulting firm, announce their affiliation today, with…

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Philadelphia City Council Passes Bills Affecting Real Estate Development

On December 10th, the Philadelphia City Council passed three bills that impact real estate development citywide. The bills deal with tax abatement for new residential construction and for commercial &…

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What’s in the $900 Billion Pandemic Relief Package? – Updated

On December 21st, Congress passed a $900 billion pandemic relief package that was signed into law by the president on December 27th. The bill comes with a second round of direct stimulus payments…

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