The Restaurant Revitalization Fund is dead
After months of political jockeying, the Restaurant Revitalization Fund is officially dead. On Thursday, May 19, the Senate voted down the Small Business COVID Relief Act of 2022, which would’ve added $40 billion in relief for the thousands of restaurant owners across the country still struggling after shutdowns, staffing shortages, and more operational woes caused by the COVID-19 pandemic. Put simply, restaurateurs can be all but assured that no more assistance is on the way from the federal government.
IRS interest rates increase for the third quarter of 2022
As inflation and interest rates spiral upward, the Internal Revenue Service is increasing its interest rates for the third quarter of the year. The IRS announced that interest rates will increase for the calendar quarter beginning July 1, 2022.
The rates will be:
Dates to Remember
June 15th – Second Quarter Federal and Pennsylvania individual and corporate estimated tax payments for 2022 are due.
Fourth of July Hours
In honor of America’s Birthday, our office will be closed on Monday, July 4th and will reopen on Tuesday, July 5th.
Have a safe and happy holiday!