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QUALIFIED OPPORTUNITY ZONES

The Federal Tax Cuts and Jobs Act of 2017 (“TCJA”), which was enacted at the...

PAYCHECK PROTECTION PROGRAM FORGIVENESS GUIDELINES

The covered period is either the 24-week period beginning on the loan disbursement date or...

PAYCHECK PROTECTION PROGRAM (PPP) FORGIVENESS APPLICATION

Borrowers may submit a loan forgiveness application any time before the maturity date of loan...

PAYROLL TAX DEFERRAL – PRESIDENTIAL ORDER

Presidential memorandum issued allows an employer to defer its employee withholding, deposit and payment of...

AMERICANS TO RECEIVE IRS TAX REFUND INTEREST

In third quarter 2020, the Treasury Department and the Internal Revenue Service sent interest payments...

DEALING WITH IRS DURING COVID-19 SHUTDOWN

The majority of taxpayers send checks to IRS via a collection and processing service lockbox...

CARES ACT AND YOUR RETIREMENT PLAN

June 19, 2020, the Internal Revenue Service released Notice 2020-50 expanding the categories of individuals...

2021 Wage Cap Rises Modestly for Social Security Payroll Taxes

The taxable wage cap is subject to an automatic cost-of-living adjustment (COLA) each year based...