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As the whole world grapples with the personal, professional, and economic fallout of the COVID-19 outbreak, we wanted to help our tax and small business clients stay up to date on the latest news affecting them each day. Keep checking back for the top headlines to stay informed. Here is some of the important news …
Live Updates: The Latest COVID-19 News for Taxpayers and Small Business OwnersRead More
The COVID-19 epidemic has created situations where employees are not able to work because they tested positive for the virus or have been quarantined after coming in contact with someone who has tested positive. It has also caused parents to miss work because their children’s school has closed due to the outbreak and there is …
Congress Provides Sick Leave Benefits and Child Care Leave Benefits for EmployeesRead More
The tax payment due date is now July 15th due to COVID-19, or Coronavirus. In an unprecedented move to dampen the economic hardship of the COVID-19 virus, the IRS has given taxpayers until July 15th to file their 2019 returns and pay their 2019 tax liability – without having to file a request for extension …
Can’t Pay Your Taxes? Tax Payment Due Date Extended Because of COVID-19Read More
The IRS has postponed the due date for filing Federal income tax returns and tax payments due on April 15, 2020 until July 15, 2020. Below are the specifics of those postponements. Filing Due Date Postponement: The due date for filing 2019 federal income tax returns due April 15, 2020 is postponed to July 15, …
What the April 15 Tax Filing Deadline Extension Means to YouRead More
Taxpayers frequently ask what benefit is derived from a tax deduction. Unfortunately, there is no straightforward answer. The reason the benefit cannot be determined simply is because some deductions are above-the-line, others must be itemized, some must exceed a threshold amount before being deductible, and certain ones are not deductible for alternative minimum tax purposes, …
On December 20, 2019, President Trump signed into law the Appropriations Act of 2020, which includes a number of tax law changes, including extending certain tax provisions that expired after 2017 or were about to expire, a number of retirement and IRA plan modifications, and other changes that will impact a large portion of U.S. …
Congress Green-Lights Some Alternative Vehicle CreditsRead More
Now as part of the SECURE Act that was included in the Appropriations Act of 2020, and effective for tax years beginning in 2020, individuals who otherwise qualify can make traditional IRA contributions at any age.
On December 20, 2019, President Trump signed into law the Appropriations Act of 2020, which included a number of tax law changes, including extending certain tax provisions that expired after 2017 or were about to expire, a number of retirement and IRA plan modifications, and other changes that will impact a large portion of U.S. …
On December 20, 2019, President Trump signed into law the Appropriations Act of 2020, which included a number of tax law changes. This included extending employers hiring tax credit for an additional year. This article is one of a series of articles dealing with those changes and how they may affect you. Employers that hire …
Congress Extends Employers’ Hiring Tax Credit For Another YearRead More
