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Vote for Vrakas!
Click Here To Vote For Vrakas! "Accountant" can be found under the "Home, Home Services & Finance" Section Back in February the Milwaukee Journal Sentinel started the Top Choice Awards by having the public write in their favorite companies for a variety of...
IRS Provides Guidance for Employers Claiming the Employee Retention Credit for First Two Quarters of 2021
The Internal Revenue Service has issued guidance for employers claiming the Employee Retention Credit under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) modified by the Taxpayer Certainty and Disaster Tax Relief Act of 2020 (Relief Act). Notice...
Biden Signs PPP Deadline Extension Into Law
The deadline to apply for a Paycheck Protection Program (PPP) loan was formally extended Tuesday when President Biden signed the PPP Extension Act of 2021, H.R. 1799 into law. The popular program established by the CARES Act, which was created to help small businesses...
IRS Extends Additional Tax Deadlines for Individuals to May 17
The Internal Revenue Service announced that individuals have until May 17, 2021, to meet certain deadlines that would normally fall on April 15, such as making IRA contributions and filing certain claims for refund. This follows a previous announcement from the IRS on...
Tax Day for Individuals Extended to May 17: Treasury, IRS Extend Filing and Payment Deadline
The Treasury Department and Internal Revenue Service announced today that the federal income tax filing due date for individuals for the 2020 tax year will be automatically extended from April 15, 2021, to May 17, 2021. The IRS will be providing formal guidance in the...
IRS Begins Delivering Third Round of Economic Impact Payments to Americans
The Internal Revenue Service announced today that the third round of Economic Impact Payments will begin reaching Americans over the next week. Following approval of the American Rescue Plan Act, the first batch of payments will be sent by direct deposit, which some...
SBA Issues New PPP Calculation Option For Self-Employed Taxpayers
The U.S. Small Business Administration (SBA) issued a new Paycheck Protection Program (PPP) interim final rule allowing self-employed individuals who file Schedule C, to calculate their maximum loan amount using gross income rather than net income. This new rule...
IRS Provides Guidance for Employers Claiming the Employee Retention Credit for 2020, Including Eligibility Rules for PPP Borrowers
The Internal Revenue Service issued guidance for employers claiming the employee retention credit under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), as modified by the Taxpayer Certainty and Disaster Tax Relief Act of 2020 (Relief Act), for...
Vrakas Celebrates 50 Year Anniversary
It is with great pride that Vrakas S.C. announces its 50th anniversary this year (1971-2021). Vrakas CPAs + Advisors was founded 50 years ago when its founder, Bob Vrakas, identified that the larger accounting firms were under-serving middle...
Vrakas Promotions from Manager to Principal
The public accounting and business advisory firm of Vrakas S.C. is pleased to announce the promotion of Sara M. Johnson, CPA and Paul A. Rothering, CPA to Principal. Sara M. Johnson, CPA - Previously a manager, Johnson has been promoted to Principal in the firm's...