President Trump Signs Into Law CARES Act
On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief and Economic Security (CARES) Act, which provides relief to taxpayers affected by the novel coronavirus (COVID-19). The…
Income Tax Filing Deadline Moved to July 15
Treasury Secretary Steven Mnuchin says the Trump administration has decided to push the income tax filing date to July 15 from April 15. Mnuchin announced the decision in a tweet…
Federal Aid Package Helps Individuals Affected by COVID-19
Federal Aid Package Helps Individuals Affected by COVID-19 The Families First Coronavirus Response Act (H.R. 6201), became law on March 18, 2020. The Act guarantees free testing for the novel…
Employers Can Immediately Provide Tax-Free Qualified Disaster Payments to Employees in Connection With COVID-19
Employers Can Immediately Provide Tax-Free Qualified Disaster Payments to Employees in Connection With COVID-19 Employers are scrambling to find ways to help their employees who are impacted by the novel…
IRS Releases COVID-19 Payment Relief
IRS Releases COVID-19 Payment Relief The Treasury Department and the Internal Revenue Service are providing special payment relief to individuals and businesses in response to the COVID-19 Outbreak. The filing…
What to Do If You Are Missing Important Tax Forms
What to Do If You Are Missing Important Tax Forms If you are ready to file your taxes but are missing important tax forms here’s what you should do: Form…
Are Social Security Benefits Taxable?
Are Social Security Benefits Taxable? Social Security benefits include monthly retirement, survivor, and disability benefits; they do not include Supplemental Security Income (SSI) payments, which are not taxable. Generally, you…
Worker Classification: Employee vs. Contractor
Worker Classification: Employee vs. Contractor If you hire someone for a long-term, full-time project or a series of projects that are likely to last for an extended period, you must…
It’s Not Too Late to Make an IRA Contribution
It’s Not Too Late to Make an IRA Contribution If you haven’t contributed funds to an Individual Retirement Account (IRA) for tax year 2019, or if you’ve put in less…
Tax Filing Season Begins
Tax Filing Season Begins January 27, 2020, marked the start of this year’s tax filing season. Complicating matters is a newly revised Form 1040, U.S. Individual Income Tax Return. With more…