RTBH Announcements

Good Morning, The IRS previously issued guidance indicating that expenses used to qualify for a PPP loan that is forgiven are not deductible. Recently, the IRS and the Treasury Department have issued guidance in Revenue Ruling 2020-27 regarding the tax treatment of these expenses if the taxpayer’s PPP loan hasn’t been forgiven by the end of the tax year. The guidance indicates that if the taxpayer reasonably expects to receive forgiveness of the loan on the basis of the expenses paid or accrued during the Covered Period, those expenses may not be deducted, even if the taxpayer’s loan has not been forgiven, ...

RTBH welcomes Christy to the team as our Office Operations Director. Christy moved from Virginia to Mobile in 2007 to attend the University of South Alabama. Before joining RTBH, Christy was the Office Manager for one of the first e-commerce businesses to sell air filters. With a tremendous attention to detail, dedication, and work ethic, she is an excellent asset to the RTBH team. View Bio

Good Morning, If your business incurred costs directly related to COVID-19 (such as Personal Protective Equipment) that have not already been reimbursed by Federal program funds, you may be eligible for a grant for up to $20,000. Please note that this grant program appears to have limited application. Application Period, Amount and Purpose of Funds Applications for grants up to $20,000 begin Monday, November 23, 2020 at noon and will be processed on a first-come, first-served basis through noon on December 4, 2020, or until funds are exhausted. Grant funding is to be used to prevent, prepare for, and respond to ...

Good Morning, The Alabama Department of Revenue recently announced that beginning November 1, 2020, taxpayers will be required to renew the State of Alabama Tax License annually. The annual license renewal applies to these tax types: Sales Tax Rental Tax Sellers Use Tax Lodgings Tax Utility Gross Receipts Tax Simplified Sellers Use Tax Renewals can be obtained on The My Alabama Taxes (MAT) website. Taxpayers will need to verify and/or update business information in order to generate a new license. This includes: Current legal name Owner/officer/member information Phone Number Social security number/FEIN Location addresses for each location Taxpayers will also need to ...