2020 COVID Relief Affecting Individual Taxpayers
Tax Season is here. Before you gather and submit your 2020 tax information, here are a few things you need to know. Below is an overview of key provisions in...
26 January, 2021
Covid Tax Tips Tag
Dec. 2020 Stimulus Payments
Recovery Rebate Stimulus Payments and Credits December 2020 Stimulus Payments The bill provides a refundable tax credit in the amount of $600 per eligible family member. The credit is $600 per...
06 January, 2021
Extension of COVID-19 Employee Retention Credits
This may be one of the most important sections of the December 2020 Tax Act for Businesses. It may provide significant tax credits on Forms 941 and 944. Original Employee Retention...
06 January, 2021
Guidance on Employee Tax Deferral
President Trump issued a Presidential Memorandum, that directs the Treasury Secretary to use his authority to defer the withholding, deposit and payment of employees’ portions of Social Security taxes from...
04 September, 2020
Didn’t Qualify for the Stimulus Payment? Capture it on your 2020 Taxes
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...
27 July, 2020
A Novel Way to Make COVID-19 Relief Donations
On March 13, 2020 the President issued an emergency disaster declaration under the Stafford Act as a result of the coronavirus disease pandemic. The disaster area covers all 50 states,...
20 July, 2020
Payroll Tax Relief for Employers Impacted by COVID-19
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...
06 July, 2020
Employers Can Grant Paid Leave for COVID-19
The IRS issued COVID Tax Tip 2020-63 on May 28, 2020. Under the Families First Coronavirus Response Act, employers can grant paid leave for an employee to take care of their...
29 May, 2020
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