MRPR Blog

American Rescue Plan Provides Additional Tax Benefits

Posted by MRPR on Mar 12, 2021 2:12:22 PM

 

On Thursday March 11, 2021 President Biden signed the American Rescue Plan Act of 2021, H.R. 1319. This is the third major relief package to help Americans who are struggling with losses and setbacks from COVID-19 related government lockdowns and countermeasures.

Following the $1.7 million Coronavirus Aid, Relief, and Economic Security Act (CARES) of March 2020, and the $900 billion Consolidated Appropriations Act (CAA) of December 2020, the $1.9 trillion American Rescue Plan Act “the Act” provides several tax benefits for individuals and businesses alike.

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Topics: Tax Topics, News, COVID-19 Updates

SBA Opens Second Round of PPP Applications

Posted by MRPR on Jan 12, 2021 12:14:05 PM

On Saturday, January 9th the Treasury and the SBA released new PPP guidance and application forms. The new guidance includes overviews of the First and Second PPP draws and the Revised PPP1-Borrower-Application-Form and Second-Draw-Borrower-Application-Form.

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Topics: Business Planning & Operations, News, COVID-19 Updates

Consolidated Appropriations Act of 2021 Offers Help to Businesses and Individuals

Posted by MRPR on Dec 22, 2020 7:00:00 PM

Christmas came early this year! As part of the Consolidated Appropriations Act of 2021, Congress has passed a stimulus package (“COVID-related Tax Relief Act of 2020”) that has provided a variety of useful provisions and clarifications for individual and business taxpayers alike. While not as comprehensive as the CARES Act passed earlier this year, it provides much-needed aid.

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Topics: News, COVID-19 Updates

Large SBA Loans Require SBA Form 3509

Posted by Denise Thompson, CPA on Dec 16, 2020 2:02:20 PM

Under the Paycheck Protection Program (PPP), borrowers who received a PPP loan in excess of $2 million, whether from a single loan or the combined total (together with affiliates), have known for a while that their loans would receive increased attention from the Small Business Administration (SBA). To that end, the SBA Form 3509 must be submitted for loan amounts of $2 million or greater.

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Topics: Accounting Hot Topics, News, COVID-19 Updates

Michigan Provides Sales Tax Relief for Certain Taxpayers

Posted by Louis DiSarno, CPA on Dec 15, 2020 4:04:53 PM

The Michigan Department of Treasury has granted a 31-day waiver for penalty and interest for the late reporting of sales, use, and withholding (SUW) taxes ordinarily due on December 20, 2020. Because of this waiver, any SUW returns and payments for affected businesses can be made without interest or penalty until January 20, 2021.

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Topics: Tax Topics, News

Michigan Small Businesses Get $15K From Relief Initiative

Posted by Greg Zink on Dec 7, 2020 10:50:52 AM

On November 30th, the MEDC announced that the Michigan Strategic Fund approved the funding of up to $10 million to assist small businesses disproportionately impacted by COVID -19. The “Pure Michigan Small Business Relief Initiative” will utilize Federal CARES Act monies to award up to $15,000 each to Michigan small businesses.

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Topics: News, COVID-19 Updates

The Families First Coronavirus Response Act H.R. 6201

Posted by MRPR on Mar 20, 2020 6:23:13 PM

On Wednesday, March 18, 2020, the Families First Coronavirus Response Act H.R. 6201 was signed into law by President Trump after the Senate passed the bill by a 90-8 vote. The Act contains provisions for paid leave for employees, tax credits for business owners, COVID-19 testing, unemployment insurance and additional funding for government programs. The bill takes effect no later than April 1, 2020, and it will sunset on Dec. 31, 2020. 

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Topics: News, COVID-19 Updates

Michigan Offers Relief for Sales, Use and Withholding Tax

Posted by MRPR on Mar 19, 2020 4:56:00 PM

As the federal government and state governments across the country struggle to deal with the ongoing COVID-19 (Wuhan coronavirus) pandemic, state tax agencies are offering relief to taxpayers as the economy adapts to the social distancing requirements prescribed by the Centers for Disease Control (CDC). Michigan is following suit by extending certain protections to affected taxpayers.

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Topics: News, COVID-19 Updates

Why Take An Accounting Internship With MRPR?

Posted by Tyler Walz on Oct 15, 2019 7:30:00 AM

Searching for an open position with an accounting firm can be intimidating for anyone preparing to enter the workforce for the first time. There are many factors to consider when thinking about how to start your career and what experiences will be valuable to gain in your first job as an accountant. An accounting internship is a great way test the culture and environment of an accounting firm to see if they're a ‘good fit’ for you.

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Topics: News

​MRPR Makes Crain's Cool Places to Work 2018

Posted by Greg Zink on Oct 2, 2018 7:54:00 AM

 

We're excited to announce that MRPR has made Crain's 2018 list of Cool Places to Work in Michigan. MRPR ranks 78 among 100 companies recognized by their employees for having outstanding workplace culture. Also a big shout out to our clients at New Eagle, for making the list as well!

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Topics: News