Individual Stimulus Payments
The IRS will start sending Economic Impact Payments to most Americans in April. Check your eligibility, payment status and confirm your payment type. A Few Words of Caution: Scammers will doubtlessly...
14 April, 2020
2020 Tag
Extensions for Tax-Free Section 1031 Deadlines
Notice 2020-23 (which updates Notice 2020-18, “Additional Relief for Taxpayers Affected by Ongoing Coronavirus Disease 2019 Pandemic”), released on April 9, 2020, provides Taxpayers who are currently engaged in a...
14 April, 2020
CARES Act: Changes to Health Savings Accounts
The Coronavirus Aid, Relief, and Economic Security (CARES) Act, signed into law March 27, 2020, contains important updates on the use of health savings accounts (HSAs), flexible spending accounts (FSAs)...
14 April, 2020
Vendor Communication Best Practices
The COVID-19 situation might affect your ability to pay rent, bank loans, insurance premiums, utilities, or vendors on a timely basis. If you are unable to pay these items, open...
13 April, 2020
Coronavirus and Taxes: Frequently Asked Questions (FAQ)
The COVID-19 outbreak is affecting every facet of our lives – including our taxes. Check here for all your tax related FAQ to see how you may be impacted. Q1: Since...
13 April, 2020
3 Steps to Understanding Paycheck Protection Program (PPP) Loans
If you are a small to mid-size business owner with under 500 employees, it probably did not escape your attention that Friday April 3rd was the start date for applications...
09 April, 2020
Five-Year Carryback for Net Operating Losses Now Available
The December 2017 tax act (TCJA) eliminated NOL Carrybacks, and limited NOL Carryforwards to 80% of taxable income. The 2020 CARES Act temporarily eliminated these provisions and increased the previous...
09 April, 2020
COVID-19 Retirement Plan Changes
The last four months have been a tumultuous time for retirement plan distribution rules and in particular Required Minimum Distribution (RMD) rules. SECURE ACT CHANGES In late December 2019, long before Coronavirus...
09 April, 2020