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...
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...
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...
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)...