Tax season straggled to its pandemic-extended end, with tax professionals divided over whether they would have wanted a further extension, in light of the continuing reign of the coronavirus. The Internal Revenue Service, meanwhile, continued to reopen operations across the country, and reminded taxpayers who took advantage of the People First Initiative tax relief and didn't make their previously owed tax payments between March 25 to July 15 that they need to restart their payments. As the deadline for applying for the Paycheck Protection Program was extended to Aug. 8, accountants' thoughts turned to applying for loan forgiveness for their clients, and the American Institute of CPAs and its business and technology arm, CPA.com, released a PPP loan forgiveness platform, PPPForgivenessTool. com, which automates the forgiveness process for small-business owners.
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