The Internal Revenue Service is beginning the process of sending out economic relief payments. Americans who filed a tax return in 2018 or 2019, as well as seniors who receive Social Security retirement, disability payments or Railroad Retirement benefits, do not have...

The IRS has announced that Social Security recipients will automatically receive economic impact payments.

Those receiving Social Security benefits who don’t typically file a tax return will not need to file an abbreviated (simple) tax return to receive their stimulus...

While all the chatter is about the stimulus payments and the loan programs available for the small business owner there were also many tax provisions that were included in the CARES Act:

• Special rules for retirement funds: If you take money out of a qualified retire...

As a result of the legislation related to COVID-19, there are two available loan programs. This is not a comprehensive review and small businesses should check the SBA.gov website for more information on the Economic Injury Disaster Loan (EIDL) program or their local S...

The CARES Act (Coronavirus Aid, Relief, and Economic Security Act) consists of about 880 pages touching every industry. Over the next couple of days, we will address a separate section each day to break it down for you. A note of caution here – while the Act has passed...

Does the deadline postponement apply to return filing and payments?

Yes. Both the filing and payment deadlines have been automatically postponed from April 15, 2020 to July 15, 2020 for individuals, trusts, estates, corporations, or any type of unincorporated business e...

SPECIAL EDITION  •  SPRING 2020

Dear Client

We are providing this special edition of Tax News to try and make sense of the recent actions and legislation that have been put into place. Almost daily we have been seeing new announcements and new legislation being offe...

U.S. DEPARTMENT OF LABOR PUBLISHES GUIDANCE EXPLAINING PAID SICK LEAVE AND EXPANDED FAMILY AND MEDICAL LEAVE UNDER THE FAMILIES FIRST CORONAVIRUS RESPONSE ACT

The U.S. Department of Labor’s Wage and Hour Division (WHD) announced its first round of published guidance to...

This past week, taxpayers began receiving letters that contain their IP PIN for use when filing their 2019 tax returns. An IP PIN is a six-digit number assigned to eligible taxpayers that helps prevent the misuse of their Social Security number on fraudulent federal in...

With the start of the 2020 tax filing season near, the Internal Revenue Service is reminding taxpayers to avoid unethical “ghost” tax return preparers.

According to the IRS, a ghost preparer does not sign a tax return they prepare. Unscrupulous ghost preparers will prin...