American Rescue Plan Act of 2021

American Rescue Plan Act of 2021 President Biden signed the American Rescue Plan Act of 2021 (ARPA) into law on Thursday afternoon. This $1.9 trillion stimulus package contains additional funding and expansion of tax credits to qualifying small businesses, assistance to various industries that were impacted by the COVID-19 pandemic, namely restaurants, direct stimulus payments…

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B2B software SPAC Bannix Acquisition files for a $100 million IPO

RotenbergMeril served as auditors in connection with Bannix Acquisition Corp.’s $100M pre-IPO SPAC registration statement filing with the SEC Bannix Acquisition Corp. filed it’s pre-IPO Form S-1 registration statement and prospectus with the Securities and Exchange Commission yesterday, February 19, 2021. Bannix Acquisition, a blank check company is targeting a B2B enterprise software business and…

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PPP Loans Round 2

PPP Loan Opening Dates – Round 2

PPP Loan Opening Dates The application window for Paycheck Protection Program (PPP) forgivable loans will open Friday January 15, 2021 for lenders with $1 billion or less in assets, the US Small Business Administration and Treasury announced. The opening, which will take place at 9 a.m. ET, applies for both first- and second-draw PPP loans.…

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2020 Year-End Tax Planning for Individuals  

2020 Year-End Tax Planning for Individuals As the year-end approaches, individuals, business owners and family offices should be reviewing their situations to identify any opportunities for reducing, deferring or accelerating tax obligations. Areas that should be looked at in particular include tax reform provisions that remain in play, as well as new opportunities and relief granted earlier…

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New Guidance Issued on President Trump’s Memorandum on Deferral of Employees’ Share of Social Security Tax

On August 8, 2020, President Donald J. Trump signed an executive memorandum directing the U.S. Department of the Treasury (Treasury) to allow deferral of the withholding, deposit, and payment of the employee portion of the 6.2 percent Social Security tax (but not the 1.45 percent Medicare tax) for the period of September 1, 2020, through…

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