ILLMAS

It’s possible, they filled out their application in early April when there was no guidance, we were all thinking it was a $10,000 loan, then around mid April it was announced it was $1,000 per employee, so you might be right.

Funny you mention that, for the last years they been loaning money to their business just to cover the expenses, would be impossible to receive a pay, but they were on the payroll when the business had a profit many years ago.

Just found out, one of my client received $1,000 per shareholder (1120S no employees) from the SBA, I guess it's good news.

I will be more worried about having the proper insurance if I was the TP, bring this up to your client and parties will probably stop ASAP.

https://chicago.suntimes.com/2020/5/8/21252758/admiral-theatre-lawsuit-ppp-loans-corinavirus-first-amendment-strip-club

Same for IL, required but not considered a benefit.

Not withholding taxes is very common, I have seen so many of my clients go through this, the worst one I have seen, a trucker received unemployment for the allowed time, the employer brought the driver back and was paying cash, two years later TP gets a notice he did report XXX on a 1099 and shortly after the department of employment security wanted their money back (double dipping).

I was a Mac user running Windows for about 5-6 years, here are the pros and cons: Pro iMacs looks nice The keyboard and mouse are fancy You can proudly say you own a Mac Cons Expensive upfront No room for upgrade besides memory unless if you purchase the expensive Mac Pro You have to buy OEM windows and office which you add to the cost of the Mac computer You have to decide how to partition the hard drive to allocate space OS and windows operating system. I would do 50/50 on a 500gb iMac. Just alone windows operating software takes a good amount of space Once you add various years of ATX you start running out of space Like any windows machines they get slow and takes 5 to minutes before you can open any programs Forgot about quickbooks, various version also takes up space You cannot go with the lowest/cheapest mac, memory and a large HD is a must = paying more vs a PC I haven’t dabbled with Macs for a couple of years now, but the only thing I know they paper thin now and very few USB ports and cannot be upgraded after you buy, that easily like before. good luck

Or it could of been money a cousin repaid back

Thanks everyone

Have your clients call this number 800-829-1040.

My associate is working on two separate returns tax returns (both for 2018) and ATX is giving him an error message that the PIN does not match e-File database. FYI he is getting the 2018 PIN off the IRS letter, so I am wondering if these PIN's expire, anyone?

I like the threads’ title, very unique.

I see it.

It won't appear if you are using ATX Payroll 2018, try using 2019.

At what point does it become double dipping? Many many years ago a former client was collecting unemployment and working as a truck driver for a friend, the friend issued a 1099 and that cause for DES to want their money back. This turned out to be a "I hate when this happens" moment for me.

Some people are born with "it's not my problem" attitude or it comes to them naturally, I need to muster up my courage to say those words.

Random thought, now that the SBA is allowing independent contractors to apply, can they even apply if they have no employees? How would you reconcile the loan application zero x 2.5 = zero and you cannot support it any payroll with 941's . Or an 1120S owner that doesn't pay themselves, just receives a K-1?

What the !!!! Was this just announced or did we all miss it?

Client realized they made an error when they typed their email, is there a way to update it? Luckily they printed the application number. Thank and a Happy Easter to all!!!

Wait until they adjust it for Covid, then buy it.

Has any of your clients received their $10,000 yet? I predict I will be receiving unlimited calls as to when to expect it.

This is sad but believable and understandable, one of my client that banks with a national chain institution was send packing, that they are overwhelmed and don't have a person for SBA loan and to visit another branch.

Thank you, the banker for another client already added me to their portal.