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 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...
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...
Tax Day Moves from April 15 to July 15This morning, the Treasury Department announced the federal tax filing and tax payment deadlines are now July 15, 2020. We expect states...
March 2020 Individual Due Dates March 10 - Report Tips to EmployerIf you are an employee who works for tips and received more than $20 in tips during February, you are...
View this article in PDF format. Education Tax Benefits If you pay tuition, fees, and other costs for attendance at an eligible educational institution for yourself, your spouse, or your dependent, you...
Standard DeductionThe standard deduction reduces taxable income. It is a benefit that eliminates the need for many taxpayers to itemize actual deductions, such as medical expenses, taxes, interest, and charitable...