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Idaho and the feds provided COVID-19 payments in 2020. Will you owe taxes on them?
John Sowell, Idaho Statesman
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BOISE (Idaho Statesman) Did you receive COVID-19 unemployment payments? Maybe a Paycheck Protection Program loan for your business? How about an Idaho return-to-work bonus?
What are the implications when you file your personal or business tax returns this year?
Last spring, Aki Kalatzakis obtained $43,000 from the federal Paycheck Protection Program to keep the 16 employees of Meraki Greek Street Food working.
The money from the forgivable loan prevented Kalatzakis and his wife, Farah, co-owners of the BoDo restaurant, from laying off their workers, and it allowed them to put aside money for rent and other business expenses.
Idaho businesses look forward to second round of Paycheck Protection Program funds
For some small businesses affected by the COVID-19 pandemic, help is on the way in the form of another round of Paycheck Protection Program (PPP) loans. Author: Shirah Matsuzawa Updated: 7:41 PM MST December 30, 2020
Financially, 2020 has been a difficult year for some small businesses. The COVID-19 pandemic has affected the bottom line for numerous businesses, including some in Idaho.
“It s been stressful, it s been tough, a lot of changes obviously,” said co-owner of Meraki Greek Street Food, Aki Kalatzakis.
For some small businesses, help is on the way in the form of another round of Paycheck Protection Program (PPP) loans, funds designed to save jobs at small businesses.