News & Updates
Economic Impact Payments: Round Three
[vc_row][vc_column][vc_column_text] Economic Impact Payments: Round Three On March 12, following the American Rescue Plan Act's approval and signing, the IRS began sending out the third round of Economic Impact Payments. Most payments were sent out via direct deposit,...
Coronavirus-Related Distributions and Loans
[vc_row][vc_column][vc_column_text] Coronavirus-Related Distributions and Loans The Coronavirus, Aid, Relief, and Economic Security (CARES) Act made it easier to access savings in IRAs and workplace retirement plans for those affected by the coronavirus. This relief...
Q & A: The $10,200 Unemployment Tax Break
[vc_row][vc_column][vc_column_text] Q & A: The $10,200 Unemployment Tax Break Generally, unemployment compensation received under the unemployment compensation laws of the United States or a state is considered taxable income and must be reported on your federal...
PPP Loan Deadline Extended Through May 31
[vc_row][vc_column][vc_column_text] PPP Loan Deadline Extended Through May 31 The Paycheck Protection Program Extension Act of 2021 was signed into law on March 31, 2021, extending the deadline to apply for a loan by an extra 60 days, from March 31 to May 31, 2021....
Employees Working Remotely Can Increase Your Fraud Risk
Employees Working Remotely Can Increase Your Fraud Risk Between 2008 and 2020, remote work has grown 159%. When employees are working remotely, it’s harder to detect and prevent all types of fraud. An unsupervised work environment is ideal for some fraud schemes in...
Tax Day for Individuals Extended to May 17
Tax Day for Individuals Extended to May 17 The Treasury Department and Internal Revenue Service announced yesterday that the federal income tax filing due date for individuals for the 2020 tax year will be automatically extended from April 15, 2021, to May 17, 2021....
Employees Working Remotely Can Increase Your Fraud Risk
Employees Working Remotely Can Increase Your Fraud Risk Between 2008 and 2020, remote work has grown 159%. When employees are working remotely, it’s harder to detect and prevent all types of fraud. An unsupervised work environment is ideal for some fraud schemes in...
American Rescue Plan Act of 2021
American Rescue Plan Act of 2021 President Biden signed the American Rescue Plan Act of 2021 (ARPA) into law on Thursday afternoon. This $1.9 trillion stimulus package contains extensions to unemployment, direct stimulus payments, provisions for small businesses,...
Unemployment Benefits Identity Theft Scam Alert
Unemployment Benefits Identity Theft Scam Alert During 2020, millions of taxpayers were impacted by the COVID-19 pandemic through job loss or reduced work hours. Some taxpayers who faced unemployment or reduced work hours applied for and received unemployment...
Wessel & Company Named to PA Business Central’s Top 100 Organizations
Wessel & Company Named to PA Business Central’s Top 100 Organizations Wessel & Company has been named to Pennsylvania Business Central’s Top 100 Organizations for 2021. The list was created from Pennsylvania Business Central’s 23-county coverage area and...