#TaxTwitter since I’m sitting here pondering the next round of PPP loans in the coming days, I would like to reflect on the past couple days, specifically @SRuhle and her ignorant comments. I have to throw @ShaynaCPA in because she asked a question about best books turned 1/x

Into movies. My wife and kids make fun of me for this, but one of my favorite franchises of all time is @TheHungerGames , please don’t judge me, . But this was referenced in her article. Making our profession out to be president snow trying to rip off Panem and send 2/x

other taxpayers off into the “games” to be slaughtered. Taking away all of the money from every other businesses so we could make sure our clients stayed in the “capital” so we could have parades on 5th Avenue with our billions of dollars flaunting it in the faces of those in 3/x

the other “Districts”. I mean we are all so evil that’s what we wake up every day to do. Not that we worked endless hours through March 16th to make sure all s Corp and partnership returns were filed on time since we had no guidance on that. Then we sat still for almost 4/x

10 days wondering if they were going to extend tax season after we had all stopped working to concentrate on the Cares Act. All the while bankers were not looking at it AT ALL. Thank goodness I was sending newsletters in my local community or the banks around here would have 5/x

Been another week behind. So we stop to make sure our clients would be ahead of game and banks did jack shit to be ahead and then the bill passes. Over that weekend I had conversations with no less than 10 banks explaining to them how this was all going to work and what to be 6/x

on the lookout for. Teaching them payroll and what reports, forms they need to use to verify. In the meantime I’m telling @ADP who we use to prepare 600 payrolls for their PPP report is wrong, with no answer. That’s the Saturday after the bill passes. Hmmm.Did the same Monday 7/x

We start preparing applications for clients to only be told we r not accepting applications from agents because we r only getting 1%. Excuse me, ur getting 5%. No, we only get 1% banks r telling us. Banks have yet to read ANYTHING on this. I know this, as I had to teach them 8/x

This is Monday. I have a bank contact me stating they will pay us the agent fee but 1% is too much. They wanted to “negotiate fees”. Later that day the same bank halts apps so they can ask me how to verify payroll. Ok, I’m here to help and will, so I walked them through it 9/x

so they could be accurate. Still Monday. Tuesday starts with another day of @ADP and @Paychex having their PPP calculations wrong. Oops I forgot to mention that the interim final guidance from SBA was issued at 1030 pm the Friday before all this shit show started. 10/x

We go through Tuesday fighting banks with our calcs with them telling us over and over sole prop earnings are not allowed and neither are partner’s. Ok. Well we will hold those until u idiots catch up. Big payroll companies still using net btw. Here comes late Tuesday. 11/x

The new payroll coalition comes out with the brilliant idea they are going to determine payroll means gross plus ER FICA. I again contact @ADP and tell them they r wrong. Crickets. Another day of clients using bad information. Then the SBA issues the FAQ that defined payroll 12/x

And not until 6 days in do we have an accurate reflection of what “payroll costs” means. All the while the banks r doing whatever the hell they want with the process and ignoring anything put out by the SBA. Believe me, we tried to teach them and they didn’t care at all 13/x

In the meantime the big banks r taking care of all their biggest customers.I’ll let @adammarkowitzEA school everyone on that.But most of the applications these banks received early on are NOT CORRECT, big problem going forward. How is this addressed in round 2?Do they look? 14/x

We make it through the weekend working 20 hour days for the last 4 months(that’s right it’s still tax season for CPAS)trying to figure out how to navigate new laws with the banks that r clueless with guidance that was changing hourly.All the while clients asking us what they 15/x

should do since none of them have heard from the big banks. Big kuddos to community banks for helping!!!! We have no answers, no idea if the big banks r going to help always knowing this was going to run out and they would be stuck. But banks were not taking new customers 16/x

in the first week. Local banks were taking care of their own just like the big banks were doing but big banks have millions of customers. All the while banks r telling sole props and independent contractors they can’t file until 4/10 knowing the money was never making 17/x

it that far or worse yet those applications were going to the back of the line. Meaning they went behind millions of others. Never stood a chance!!! More FAQ come along and then on Wednesday the SBA comes out with more guidance for the sole prop/IC which pulls their app 18/x

or puts them further behind. Later that day it gets announced the funds r likely going to be gone in the next 24 hours and all the while businesses are scrambling for what to do. That was 4/16. It’s 4/21 a bill has passed the senate but likely nothing in the coffers until 19/x

4/24 and still no answers on what the process is, who is first in first out; how the forgiveness works, who is eligible for forgiveness, what the banks are supposed to do with the loans on their books, keep them; sell them, r their rules to any of this, @marcorubio keeps 20/x

threatening everyone because businesses applied under the rules that were passed, but what exactly are the rules?? Oh that’s right, there are none and until there are this will continue to be the cluster it has been from jump street and that’s nobody’s fault but please 21/x

quit bashing the very #TaxTwitter community who has actually made this thing run much smoother than anyone else could have. Because without us in this process from ground zero this whole thing would have been, I’m not even going to make this rated R, but we all know “fuched” 22/x

only because I love MJ and his documentary started last night I wanted to end on #23. I apologize for the rant, but sometimes putting it all down is helpful. As I put in a newsletter to clients, if u don’t like what I have to say; I simply don’t care. Be safe all,