On Friday, May 15, 2020 the SBA and Treasury released the Paycheck Protection Program (PPP) Loan Forgiveness Application, SBA Form 3508. This application package includes: • Form of application and supporting schedules required to be submitted to lenders by those seeking forgiveness of PPP loans • Detailed instructions, including documentation required by SBA and optional…
Read MoreThree of our Partners were featured on North Fulton Business Radio to discuss the Economic Injury Disaster Loan and Payroll Protection Program. You can hear Keith Daniel, Tim Veal, and William Sammons talk to John Ray from North Fulton Business Radio here: https://businessradiox.com/podcast/north-fulton-studio/nichols-cauley-roundtable-on-sba-coronavirus-relief-programs/ Please visit Nicholscauley.com or call us at 800-823-0117 for additional guidance.
Read MoreThe amount of legislation that has been released in the past few weeks is staggering. The CARES Act alone contains a mountain of information. The Nichols Cauley team has been working hard to summarize the information so that you can understand it, and more importantly, know what you need to do. If you are a…
Read MoreTo help clarify questions related to the filing and payment deadline extension announced in Notice 2020-18, the IRS released “Filing and Payment Deadlines Questions and Answers”. LINK: https://www.irs.gov/newsroom/filing-and-payment-deadlines-questions-and-answers Highlights clarified in the Questions and Answers: Extended: • Only income tax returns and estimated income tax payments due on April 15th are automatically extended to July…
Read MoreOn March 23, 2020 Governor Brian Kemp announced an extension of the income tax filing and payment deadline from April 15, 2020 to July 15, 2020. This will bring Georgia’s deadline in alignment with the Federal deadlines announced on March 20, 2020. The Georgia Department of Revenue has also issued guidance giving each individual county…
Read MoreCLIENT ALERT The Families First Coronavirus Response Act was signed by President Trump on March 18, 2020. Link to the full text is located here https://www.congress.gov/bill/116th-congress/house-bill/6201/text The current Family and Medical Leave Act provides eligible employees with up to 12 weeks of unpaid leave per year, requires group health benefits to be maintained for the…
Read MoreOn March 20, 2020, the IRS released Notice 2020-18 (https://www.irs.gov/pub/irs-drop/n-20-18.pdf) which supersedes Notice 2020-17 issued on March 18, 2020. Notice 2020-18 provides: • No extension forms are required to be filed. The April 15, 2020 filing deadline is automatically postponed to July 15, 2020. • The extension applies to any “person” defined as an individual,…
Read MoreMarch 19, 2020 The Georgia Department of Labor (GDOL) has adopted an emergency Rule 300-2-4-0.5 Partial Claims, effective March 16, 2020. The rule mandates all Georgia employers to file partial claims online on behalf of their employees for any week during which an employee (full-time/part-time) works less than full-time due to a partial or total…
Read MoreMarch 19, 2020 On March 18, 2020, the IRS released Notice 2020-17 extending the due date, penalties and interest on certain income tax payments. The Notice implemented the following changes: • Extended the due date for the payment of Federal income taxes (including self-employment tax) otherwise due on April 15, 2020 until July 15, 2020…
Read MoreMarch 16, 2020 COVID-19 (coronavirus) is causing much disruption in our families, communities, and businesses. Nichols, Cauley is continuing, and plans to continue, our operations in these unknown and uncertain times as a result of this public health crisis. Nichols, Cauley has effectuated our comprehensive business continuity plan to ensure our Firm’s continued operation and…
Read MoreFOR IMMEDIATE RELEASE: MARCH 4, 2020 An expanded focus on delivering advanced and comprehensive solutions to business and individual clients continues to drive Nichols, Cauley & Associates, LLC to rise among Atlanta’s top accounting firms. The Atlanta Business Chronicle ranked Nichols Cauley as the 22nd largest public accounting firm presence in the city by number…
Read MoreNichols, Cauley & Associates, LLC (Nichols Cauley) is proud to announce three firms have integrated their practices into Nichols, Cauley & Associates, LLC. Hartzog & Swordsma, LLC of Tyrone, GA and Smith Conley & Associates, PC of Fayetteville, GA will serve clients from our new Fayetteville office location. The Morehouse Group of Dalton, GA will…
Read Moreby David Conley, Partner There have always been a number of things you can do to get on the IRS’ bad side. This article from Forbes is a great checklist of things you should never, ever, do when dealing with an IRS audit. Published by Tax Attorney Robert Wood in Forbes Magazine Todd Christy and…
Read MoreDeduction rates change for 2020! It’s easy to forget about the business use of your personal car. Here’s how to calculate this deduction for all your business miles. Beginning January 1, 2020: 57.5 cents/mile (business miles driven) 17 cents/mile driven (medical or moving purposes) 14 cents/mile driven (in service to charitable organizations) And just for reference,…
Read MoreHighlights of spending package’s tax law changes The federal government spending package titled the Further Consolidated Appropriations Act, 2020, does more than just fund the government. It extends certain income tax provisions that had already expired or that were due to expire at the end of 2019. The agreement on the spending package also includes…
Read MoreA year after the General Assembly approved two of the most significant tax bills this decade, lawmakers slowed the pace of tax-break legislation in 2019 after a string of sessions in which they seemed to never see a measure they didn’t like. That slowdown could be in part because 2019 was a non-election year, and…
Read MoreU.S. Senators David Perdue (R-GA) and Catherine Cortez Masto (D-NV) are taking action to provide relief for Americans impacted by state-declared disasters and states of emergency. In the midst of a hurricane or forest fire, taxes are far from Americans’ minds as they seek safety and shelter. The current, bureaucratic process of securing a tax…
Read MoreCongratulations to the recipients of our 2019 Farrell Nichols Memorial Scholarships at Georgia Southern University,… Posted by Nichols, Cauley & Associates, LLC on Thursday, April 25, 2019
Read MoreA new, 10 percent middle-income tax cut is conditionally expected to be advanced in 2019, according to the House’s top tax writer. This timeline, although largely already expected on Capitol Hill, departs sharply from President Donald Trump’s original prediction that the measure would surface by November.
Read MoreThe Senate Finance Committee’s (SFC) top ranking Democrat has introduced a bill to restore a retirement savings program known as myRA that was terminated by Treasury last year. The myRA program was created by former President Obama through an Executive Order.
Read MoreCongressional Republicans are looking to move forward with certain legislative tax efforts during Congress’s lame-duck session. The House’s top tax writer, who will hand the reins to Democrats next year, has reportedly outlined several tax measures that will be a priority when lawmakers return to Washington, D.C., during the week of November 12. However, President…
Read MoreTax-Related Portion of the Substance Use–Disorder Prevention that Promotes Opioid Recovery and Treatment (SUPPORT) for Patients and Communities Act, Enrolled, as Signed by the President on October 24, 2018, P.L. 115-271
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