We are pausing all of our PPP forgiveness applications until after April 15th, 2021 .
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Good morning!
As many of you know, the PPP process has been a WILD ride that we've been spending a TON of time on over the course of the last year in assisting our clients with loan applications, forgiveness, planning, and all of the consulting surrounding the process.
We've now reached a tricky position with loan forgiveness applications. Many banks have temporarily closed their forgiveness portals until March as they are implementing the updates to the process from the laws passed at the end of December 2020.
As you also probably know, March is our busiest month of the year. This year will be an exceptionally busy March as the IRS delayed the beginning of tax season until February 12th rather than late January as it has been in previous years.
Forgiveness applications are due 10 months from the end of your covered period, and most of our remaining forgiveness applications that need to be done are not due until summer of 2021. With that being said, we are pausing all of our PPP forgiveness applications until after April 15th, 2021 so that we can return our team’s focus to tax season. Many of you have more questions than usual surrounding many of the updates to the tax laws so we want to ensure that everyone gets all of their questions answered as quickly and accurately as possible.
If there are extenuating circumstances that require earlier attention to your PPP loan, please feel free to reach out to me directly and we will work through a solution.
TAX SEASON
Our offices will continue to remain mostly virtual. We have been working tirelessly to build our virtual systems to allow for a FAST and ACCURATE turnaround of your tax return processing. To ensure the fastest turnaround time, please avoid mailing tax documents to us this tax season.
We have had unprecedented delays with the postal service so far this year and we have our concerns that this will continue throughout tax season. So we have two PREFERRED options of getting your documents to us.
1.) You can drop off your tax documents 24/7 in any of our secure drop boxes at all of our locations.
2.) You can also email Kalipzo at zo@hddaviscpas.pro for a secure link to upload your documents securely to our system.
We've worked very hard to build a team who can continue to provide ACCURATE and TIMELY answers, advice, and guidance, and I'm very proud of the group that we have assembled and how they have
adapted to our new world.
We are all grateful for our clients and friends in the community for continuing to be patient with us as we do our very best to adapt and provide the highest level of service to our clients.
Thank you,
Tim
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