Paycheck Protection Program

A major component of the CARES Act is the Paycheck Protection Program.  It is aimed at keeping workers employed during this pandemic and economic decline.  The initiative provides for 100% federally guaranteed loans to small businesses.  If borrowers maintain their...

Tennessee Extends Hall Income Tax Deadline

The Tennessee Department of Revenue has extended the due date for filing and paying the Hall income tax from April 15, 2020 to July 15, 2020. Taxpayers will have until July 15, 2020, to file returns and make any payments originally due on April 15, 2020. Interest and...

Tennessee Extends Franchise and Excise Tax Deadline

The Tennessee Department of Revenue has extended the due date for filing and paying franchise and excise tax from April 15, 2020 to July 15, 2020. Taxpayers will have until July 15, 2020, to file returns and make any payments (including quarterly estimated payments)...

IRS Allows Businesses to Recoup Virus-Related Leave Costs

Small and mid-size businesses will be able to recover some of their coronavirus-related costs under new guidelines from the IRS and the Treasury and Labor departments. IRS and Treasury announced in a news release Friday that those businesses would be able to take...