IRS PPP Clarification Notice 2020-32May 8, 2020

In response to the Paycheck Protection Program loan forgiveness, the IRS on April 30, 2020 released Notice 2020-32. To keep it simple, if you have received loan proceeds under the PPP plan and the loan or portions of the loan are forgiven, the expenses associated with the loan forgiveness are not deductible. Initial understanding and …

IRS Strikes Back on PPP Loan ExpensesMay 1, 2020

In response to the Paycheck Protection Program loan forgiveness, the IRS on April 30, 2020 released Notice 2020-32. To keep it simple, if you have received loan proceeds under the PPP plan and the loan or portions of the loan are forgiven, the expenses associated with the loan forgiveness are not deductible. Initial understanding and …

1031 Extension Due to COVID-19 Emergency – Updated April 13, 2020April 13, 2020

On April 9, 2020 the IRS issued Notice 2020-23, extending a variety of deadlines, including 1031 deadlines. The Notice extends any 45-day or 180-day deadline that occurs between April 1 and July 14, to July 15, 2020. Here are two examples to illustrate the current extension. Example 1: Exchange began April 5, 2020. 45th day …

The CARES Act – Summary of Tax Provision – Updated March 31, 2020March 31, 2020

Dear Clients, Business Associates and Friends: We hope that you are keeping yourself, your loved ones, and your community safe from COVID-19 (commonly referred to as the Coronavirus). Along with those paramount health concerns, you may be wondering about some of the recent tax changes meant to help everyone coping with the Coronavirus fallout. In …

COVID-19 – Updated Client NoticeMarch 23, 2020

As valued members of the Curchin family, we want you to be aware of our response to concerns about COVID-19 (novel coronavirus). The health and safety of our clients, employees, families and vendors is our top priority. In response to the Centers of Disease Control and Prevention and the State of New Jersey’s call for …

Curchin’s McNamara Joins Provident Bank Advisory CouncilFebruary 28, 2020

  The Curchin Group’s William C. McNamara, CPA, CCIFP, was recently honored with an appointment to the Provident Bank Advisory Council. Bill joins other prominent business leaders committed to fostering the bank’s relationships with a thriving business community. Over 180 years ago, the Provident Bank began in a one-room New Jersey office and grew to become …