Industry News
On Friday, February 5, 2021, the Pennsylvania House and Senate unanimously passed a COVID-19 Relief Bill that allocates Pennsylvania’s share of $912 million in Federal funding. Included in this Relief Bill is a clause that states Pennsylvania will NOT tax PPP loan funds that have been forgiven.
This is good news! With this passage, PPP loan forgiveness funds will NOT be taxable income for either Federal or Pennsylvania income tax purposes.
Please reach out to your Walz Group Professional with any questions or concerns.
It has been more than 7 months since the CARES Act, which housed the PPP Loan provisions, was signed into law. We have learned a lot over the last 7 months and continue to learn more as information...
November 5, 2020
In early August the President used his Executive Powers to provide for a deferral of employee social security taxes beginning today, September 1. On Friday, August 28th, the Treasury released the...
August 26, 2020
The PA Department of Revenue is warning PA taxpayers of scams to watch out for that target sensitive data and personal information
February 7, 2023
