Covid-19
IRS Cancels Stimulus Checks Issued to Decedents
Article Highlights: Stimulus Payments to Deceased Individuals Stop Payments Being Made on Checks Already Issued IRS Authority to Deny Stimulus Payments to Deceased Individuals History of Stimulus Payments IRS Q&A…
Read MoreA Novel Way to Make COVID-19 Relief Donations
Article Highlights: Donating unused vacation time, sick leave and personal time Employer’s Function Great Donation Opportunity On March 13, 2020 the President issued an emergency disaster declaration under the Stafford…
Read MoreCharity Volunteer Tax Breaks
Article Highlights: Away-from-home travel Lodging and meals Entertaining for charity Automobile travel Uniforms Substantiation requirements If you volunteered your time for a charity or governmental entity during the COVID-19 pandemic,…
Read MoreWhat You Need to Know About the People First Initiative
The global COVID-19 pandemic has presented significant challenges for American citizens from both the health and financial perspectives. Many individuals are looking for ways to reduce the financial impact of layoffs…
Read MoreDon’t Throw Away That Notice 1444
Article Highlights: Notice 1444 You May Qualify for Additional Credit on the 2020 Return Tax Records The IRS is mailing all recipients of Economic Impact Payments a Notice 1444 that…
Read MoreJune 2020 Tax Due Dates
June 2020 Individual Due Dates June 1 – Final Due Date for IRA Trustees to Issue Form 5498 Final due date for IRA trustees to issue Form 5498, providing IRA owners…
Read MorePost-Pandemic Trends Shifting the Economy for Small Businesses Everywhere
While it’s absolutely true that the ongoing COVID-19 pandemic has created significant challenges for small and large businesses alike, there are also some changes happening that can be viewed as…
Read MoreCoronavirus-Related Tax Relief for U.S. Families and Individuals
As Americans and global citizens, we are living in unprecedented times with the onset of coronavirus (COVID-19) around the world. As we work together to move through these difficult times…
Read MoreIRS Guidance: PPP Loan Expenses Not Tax-Deductible
On April 30th, the IRS released guidance announcing that expenses related to Paycheck Protection Program (PPP) forgivable loans will not be tax-deductible. The PPP was originally created as part of…
Read MoreUnemployed by COVID-19? Special Benefits May Apply to You.
Article Highlights: Pandemic Unemployment Assistance Benefit Extensions Self-employed Coverage Taxability Withholding – Estimated Payments The CARES Act includes Pandemic Unemployment Assistance (PUA) provisions that extend and supplement state-provided unemployment insurance…
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