Entries by Sarah Scheffer

We Are Here for You

The COVID-19 pandemic has, in many ways, proven just how valuable CPAs are to their communities. Throughout these unprecedented events, their knowledge and expertise are being sought after now more than ever.

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Unemployment Fraud in New Hampshire

The FBI has seen a spike in fraudulent unemployment insurance claim complaints related to the ongoing COVID-19 health crisis. While fraudulent claim schemes are occurring across the country, in New Hampshire, there has also been a surge in fraudulent claims with more than 6,000 of them being filed using stolen identities.

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No 1099-Cs Issued for PPP Loan Forgiveness

The IRS recently notified lenders that they should not file “cancellation-of-debt” information returns or furnish payee statements to borrowers. Section 6050P of the Internal Revenue Code generally requires that a lender who forgives $600 or more of a borrower’s indebtedness to file “Form 1099-C, Cancellation of Debt.”

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