PPP And 1099 Updates That Could Affect Your 2020 Taxes - a podcast by SherWare, Inc. & COPAS

from 2021-01-18T04:00

:: ::

In today’s episode, Tom and Phil are talking about some changes that were included in the new stimulus bill that was just released by Congress. Companies can now apply for a second round of the Payment Protection Loan but there are some new requirements. They also discuss some changes that were made to the 1099 form and how that may affect filing and reporting your 2020 taxes.


Highlights:

1:38 Changes in 1099 filing and reporting in 2020

2:57 The new 1099 form 

3:33 Tom and Phil reminisce on the year 1982

7:36 New guidance from Congress on the Paycheck Protection Loan

8:24 Changes in eligibility for the PPP loan

9:57 New maximum loan amount

11:04 Simplified loan forgiveness


About SherWare, Inc.

If you’re enjoying this episode, please subscribe to our podcast and share with a friend! We also love ratings and reviews on Apple podcasts.

SherWare creates software to simplify your accounting needs so you have more time to do the things that matter. We serve independent oil and gas operators, accountants and investors with a platform to manage their distributions and joint-interest billings on a platform -- and we’re the only software on the market that can integrate with your QuickBooks company.
Click here to watch a demo of the software in action right now.

About COPAS:

COPAS provides expertise for the oil and gas industry through the development of Model Form Accounting Procedures, publications, and education. We are a forum for the active exchange of ideas which result in innovative business and accounting solutions.

Find a society near you.

www.copas.org



Further episodes of The Oil

Further podcasts by SherWare, Inc. & COPAS

Website of SherWare, Inc. & COPAS