IR-2020-172, July 29, 2020 The IRS provided a reminder today that the Coronavirus Aid, Relief, and Economic Security (CARES) Act can help eligible taxpayers in need by providing favorable tax treatment...
Ever since 2006, individuals age 70½ or older have been able to transfer up to $100,000 annually from their IRAs to qualified charities. These transfers are referred to as qualified...
The Coronavirus Aid, Relief, and Economic Security (CARES) Act provided a recovery rebate credit of $1,200 for individuals or $2,400 for couples and $500 per child under the age of 17...
In response to COVID-19, Congress created four payroll tax relief programs for employers via the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) and the Families First Coronavirus Response...
The CARES Act includes Pandemic Unemployment Assistance (PUA) provisions that extend and supplement state-provided unemployment insurance and are intended to lessen the financial burdens on individuals who have lost their...
Article Highlights: • CARES Act Relaxed Restrictions • Contribution AGI Limits • Charitable Contribution Deduction for Non-itemizers • IRA to Charity Transfers • Substantiation Requirements • Scammers To encourage charitable contributions to deserving qualified charities during these...
The CARES Act amendments to section 163(j) will allow many taxpayers increased interest deductions in tax years beginning in 2019 and 2020. Section 163(j) in general Section 163(j) limits business interest expense...
SBA Disaster Loans and Paycheck Protection Program (PPP) Loans Explained Haynie & Company and NOW CFO teamed up to educate and discuss with business owners and leaders how to apply for...