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Category Archives: General
Pressure Mounts on SBA to Forgive Loans, Prevent Fraud
The Treasury Department and SBA have not yet forgiven any of the 5.2 million emergency coronavirus loans issued to small businesses. Small businesses that received Paycheck Protection Program funds, as well as their banks, have been frustrated by the difficulty … Continue reading
Southwest Seeks Pay Cuts from Unions to Avoid Layoffs Through 2021
Southwest Airlines said that it is asking unions to agree to pay cuts in order to prevent furloughs and layoffs as the industry struggles to slow losses from the coronavirus pandemic Unions represent about 83% of Southwest employees. Non-union staff … Continue reading
Almost 1,600 Customers Say Wells Fargo Paused Their Mortgage Payments Without Their Consent
Nearly 1,600 Wells Fargo customers say the bank paused their mortgage payments without their consent according to communication that the bank sent to two U.S. senators in August and September. The letters also indicate that the bank didn’t know how … Continue reading
Regal Cinemas to Close All U.S. Theaters This Week
Cineworld announced today that it will close all of its movie theaters in the United States this week after the postponement of the new James Bond film left a big hole in schedules. The closures affected 536 U.S.-based Regal Cinemas … Continue reading
IRS highlights employer credits for businesses during Small Business Week
During Small Business Week, the IRS reminds business owners and self-employed individuals of employer credits available during COVID-19. These special credits were created to help small business owners during this unprecedented times. Reach out to your tax professional to see … Continue reading
Payroll Tax Deferral took effect Sept. 1, What does it mean for your paycheck?
President Trump’s payroll tax holiday took effect on September 1. Participating employers can expect heftier responsibilities, while workers who participate in the holiday could see a temporary pay boost this fall and a dip in January. The employees may see … Continue reading
CDC issues sweeping temporary eviction ban
The CDC and the Trump Administration issued an order that would make it illegal to evict an individual who expects to make less than $99,000 or a joint-filing couple that expects to make less than $198,000 in 2020. The order … Continue reading
MGM Resorts to Lay Off 18,000 Furloughed U.S. Employees
Casino operator of MGM Resorts International informed its staff in August that is would lay off 18,000 furloughed employees in the U.S. as the coronavirus-induced travel reductions hurt its operations. MGM employed almost 52,000 fulltime and 18,000 part-time workers in … Continue reading
Wendy’s and Pizza Hut Raise Concerns Over NPC Bankruptcy Sale
Wendy’s Co. and Pizza Hut LLC are raising concerns over their largest franchisee’s efforts to sell its assets in bankruptcy court. NPC International operates 392 Wendy’s and 1,200 Pizza Huts across the country filed Chapter 11 bankruptcy on July 1, … Continue reading
Federal benefit recipients with children have more time to the $500 Stimulus Payment
The IRS has reopened the registration period for individuals who receive Social Security, Supplemental Security Income, Railroad Retirement or veteran’s benefits, but didn’t receive $500 per child earlier this year when they received their own stimulus payment. Federal benefit recipients … Continue reading