Answers to Questions You May Have About Economic Impact Payments
Millions of eligible Americans have already received their Economic Impact Payments (EIPs) via direct deposit or paper checks, according to the IRS. Others are still waiting. The payments are part [...]
CARES ACT Changes Retirement Plan and Charitable Contribution Rules
As we all try to keep ourselves, our loved ones, and our communities safe from the coronavirus (COVID-19) pandemic, you may be wondering about some of the recent tax changes [...]
COVID-19: IRS Announces More Relief and Details
In the midst of the coronavirus (COVID-19) pandemic, Americans are focusing on their health and financial well-being. To help with the impact facing many people, the government has provided a [...]
Why You Should Keep Life Insurance Out of Your Estate
If you have a life insurance policy, you probably want to make sure that the life insurance benefits your family will receive after your death won’t be included in your [...]
Testing the Waters Before Jumping In
When considering a merger or acquisition, the most opportune time to find out about possible culture clashes is obviously before the deal is complete. In fact, one often-cited reason for [...]
CARES Act, Part 2
Information provided by ADP, Eye on Washington The U.S. Senate unanimously passed the Coronavirus Aid, Relief, and Economic Security Act (H.R. 748, “CARES Act”) on March 25, 2020. President Trump [...]
The New COVID-19 Law Provides Businesses With More Relief
Just days ago, President Trump signed into law another coronavirus (COVID-19) law, which provides extensive relief for businesses and employers. We believe this will provide much needed relief to “Main [...]
IRS Issues New Regs on Deducting Meal and Entertainment Expenses
The Tax Cuts and Jobs Act (TCJA) permanently eliminated deductions for most business-related entertainment expenses paid or incurred after 2017. For example, you can no longer deduct 50% of the cost [...]
Individuals Get Coronavirus (COVID-19) Tax and Other Relief
Taxpayers now have more time to file their tax returns and pay any tax owed because of the coronavirus (COVID-19) pandemic. The Treasury Department and IRS announced that the federal [...]
Update: Tax Filing Deadline and Coronavirus Relief
Information from IRS.gov As a reminder, the April 15, 2020 filing deadline has been extended to July 15, 2020. No extension of time filing is needed. In addition, on March [...]
Tax Filing Deadline Moved From April 15 to July 15
MSN has reported that the Treasury secretary just announced via Twitter that the tax filing deadline has moved to July 15. "We are moving Tax Day from April 15 to [...]
IRS Announces Relief for Taxpayers Affected by Ongoing Coronavirus Disease 2019 Pandemic
The Internal Revenue Service has issued Notice 2020-17 announcing relief for taxpayers affected by the ongoing Coronavirus Disease 2019 pandemic. Following President Donald J. Trump’s emergency declaration pursuant to the [...]
7 Valuable Tax Credits for Small Businesses
Many people are familiar with tax credits for individual taxpayers, such as the credits for higher education expenses or the child tax credit. But businesses and business owners also may be eligible for some valuable [...]