Updates & News
SECOND DRAW PAYROLL PROTECTION PROGRAM (PPP) LOANS AVAILABLE
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 PPP Loan.
Second Draw PPP Loans can be used to help fund payroll costs, including benefits. Funds can also be used to pay for mortgage interest, rent, utilities, worker protection costs related to COVID-19, uninsured property damage costs caused by looting or vandalism during 2020, and certain supplier costs and expenses for operations.
Who May Qualify - borrower is generally eligible for a Second Draw PPP Loan if the borrower:
Previously received a First Draw PPP Loan and will or has used the full amount only for authorized uses
Has no more than 300 employees; and
Can demonstrate at least a 25% reduction in gross receipts between comparable quarters in 2019 and 2020
MILLIONS OF TAXPAYERS TO RECEIVE THEIR SECOND ECONOMIC IMPACT PAYMENTS BY DEBIT CARD
The Treasury Department and the IRS are issuing millions of second Economic Impact Payments by prepaid debit card to speed delivery of the payments to as many people as possible.
If the Get My Payment tool on IRS.gov shows a date that a recipient’s payment was mailed, they should watch their mail for either a paper check or debit card. The debit cards arrive in a white envelope that prominently displays the U.S. Department of the Treasury seal.
The prepaid debit card, called the Economic Impact Payment card, is issued by Treasury's financial agent, MetaBank®, N.A.
$688 MILLION AVAILABLE IN MASSACHUSETTS SMALL BUSINESS GRANTS
Gov. Charlie Baker announced a $668 million program to provide help for small businesses affected by the pandemic.
The program offers grants of up to $75,000 or three months of operating expenses.
Businesses that are eligible for the program include restaurants, bars, caterers, indoor recreation, gyms, photographers, personal services, retail and other businesses hit hard by the pandemic.
An online application portal for the program is available here:
UPDATED OFFICE HOURS
We are open Monday - Friday 9am to 5pm and have ended our Saturday hours. Please note that you can drop off your information during these hours, or leave it in our drop box just outside our door. The drop box is checked daily. You can also email us at any information or questions. We are currently accepting telephone appointments only. You may pick up or we can ship or email all of your completed tax materials to you when completed.
No doubt these are difficult times, we are here to assist you with your tax and legal compliance issues. If you have any questions or concerns, please do not hesitate to reach out to us... be safe and healthy... Scott
Experienced Attorney | CPA
Real Estate, Probate Administration, Wills, Trusts, Estates, Business Sales, Accounting, Audit and Tax Law...
Scott M. Sawyer, is an Attorney admitted to practice in Massachusetts. He is also a Certified Public Accountant licensed to practice in Massachusetts, Vermont and New York.
Scott M. Sawyer is a graduate of Western New England University School of Law.
He received his Master’s Degree in Business at the Franklin W. Olin Graduate School of Business from
Babson College in Wellesley, Massachusetts and his undergraduate degree from the University of Massachusetts, Lowell.
His experience includes more than thirty five years of working with businesses in such diverse industries as non-profit organizations, municipalities, retailers, wholesalers, manufacturers, law firms, real estate, forestry, aviation, and many others.
Please contact Scott M. Sawyer, Attorney at Law -CPA for a complimentary review of your business or personal legal, accounting and tax compliance needs.
Material presented on this website is intended for information purposes only. It is not intended as professional advice and should not be construed as such.