Bill to be introduced to extend Estimated Payment due date

Apr 10, 2021 Shuttered Venue

Thursday, Rep. Lloyd Smucker, R.-Pa., announced that he is introducing a bill that would postpone the due date for first-quarter 2021 estimated tax payments from April 15, 2021, to May 17, 2021.

The IRS’s original postponement of the filing deadline indicated no extension would be made for 1st quarter estimated payments
Firms have been questioning the effectiveness of an automatic extension that did not delay the estimates
The AICPA has been advocating for a delayed 1st quarter estimate due date since late March

EIDL LOAN MAXIMUM INCREASES TO $500,000

Mar 25, 2021 PPP Shuttered Venue

Beginning the week of April 6th, 2021 Borrowers will be able to apply for the SBA’s Economic Injury Disaster Loan (EIDL) funding for up to 24 months of economic injury with a new maximum loan amount of $500,000.