SBA Guidance on Paycheck Protection Program (PPP)

The SBA recently released some early guidance regarding the paycheck protection program (PPP), which is open through June 30, 2020.  This guidance confirms that: Loan terms will be the same for all borrowersLoans will carry a 0.50% fixed rate No...

New Jersey Tax Deadline Extended

Today we learned that the New Jersey state income tax filing deadline and the corporation business tax filing deadline has been extended from April 15th to July 15th.   As always, speak to your MSPC partner about how the changes relate to your...

Update Tax Filing Date: IRS Extends Deadline to July 15th

As a follow-up to our previous post,  the IRS income tax filing and the deadline for making payments has been extended to July 15th.   Taxpayers can delay paying their income taxes on as much as $1 million in taxes owed for up to 90 days. Corporations that owe up to...

401(k) Hardship Distributions

Nearly 100 million people are participants in a 401(k) plan in the U.S. according to the U.S. Department of Labor.  Unfortunately, many of those participants are unable to leave 100% of their accounts available to use in retirement. This is because they face a...