HOW WE EXPECT TO PROCEED WITH COVID PANDEMIC RELATED PROJECTS

The pandemic generated many government programs and laws designed to mitigate the government enforced shut-downs.

As a result, this has been a very difficult and unusual year for government compliance.

There was the first PPP, the second PPP, separate PPP Forgiveness for each round, the ERTC for 2020 and for 2021, the EIDL, various grants, tax changes, deadline changes, the RRF, the FFCRA and probably some I forgot.

All had their own rules and regulations, deadlines and penalties and required extensive involvement from your tax, payroll and accounting advisors.

Kallas has been on top of it for our clients.  Sending E-Blasts when new information was available, partnering with a consultation firm that was well-versed on SBA procedures, having multiple meetings, researching the laws, hiring additional employees, giving advice freely, and obtaining millions in benefits for our clients.

We are working hard for you and there is plenty still to do the remainder of 2021 to secure the monies obtained or monies still able to be obtained.

Here is how we expect the remainder of the year to go:

• We are wrapping up the first PPP Forgiveness. That should be done in July prior to this newsletter being published.
• The ERTC credit is dependent on the PPP Forgiveness so once we are done with forgiveness on the first round we will finish the ERTC for 2020. The 2020 ERTC we expect to finish no later than the end of July.
• Once we are done on 2020 ERTC, we can finish up 2020 business and personal returns that have been extended due to the ERTC. Those should be all done and filed by September 15 assuming we have all your personal information.
• Immediately after finishing the 2020 forgiveness and ERTC, we will be starting on 2021 forgiveness and ERTC. We expect to have those mostly finished before the 2022 tax season starts in December of 2021.

We need and appreciate your patience and cooperation in providing us with the information to move the process along as fast as possible.  Thank you.