Tax Alerts

Larry Autrey Named to Fort Worth Inc.: The 400

Fort Worth, TX – (May 13, 2021) – Whitley Penn Managing Partner, Larry Autrey, has been selected to appear in Fort Worth Inc.: The 400. This listing includes the names and profiles of 400 of Fort Worth’s most influential people. Autrey has more than 30…

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May 11, 2021 – Paycheck Protection Program Loan Update

Texas Franchise Tax PPP Forgiveness Exclusion On May 8, 2021, Governor Abbott signed HB 1195, which excludes forgiven Paycheck Protection Program (“PPP”) loans from total revenue for Texas franchise tax purposes. To qualify for the exclusion, the forgiven PPP loan proceeds must not be included in a Taxpayer’s gross…

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March 18, 2021: IRS Postpones April 15 Due Date

The IRS announced that it has postponed the due date for individual income tax returns from April 15, 2021 until May 17, 2021. The IRS had previously postponed the due date for various tax filings and payments for Texas, Oklahoma, and Louisiana taxpayers until June…

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March 11, 2021: Congress Passes $1.9 Trillion Relief Package

Yesterday, Congress passed a budget reconciliation bill that includes the “American Rescue Plan Act” (“ARPA”, “Plan”), a $1.9 trillion COVID-19 relief package.  President Biden is expected to sign the bill into law this week. The ARPA includes several taxpayer economic relief and individual and business…

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August 6, 2020 – SBA Releases PPP Loan Forgiveness FAQs

The Coronavirus Aid, Relief, and Economic Security (“CARES”) Act established the Paycheck Protection Program (“PPP”) that provided loan funding for qualifying small businesses. Under the CARES Act, the proceeds received by a borrower from a PPP loan may be forgiven if the borrower uses the proceeds…

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