IRS Providing Penalty Relief to 1.6 Million Taxpayers
To help struggling taxpayers affected by the COVID-19 pandemic, the IRS is providing penalty relief to most people and businesses who file or filed certain 2019 or 2020 returns late.
Coronavirus related posts
Help Wanted: Why Can’t Businesses Find Enough Workers?
COVID-19 may have kicked off a severe labor shortage, but longer-term demographic trends are partly to blame for this highly unusual job market.
Women Face Challenges in a Post-Pandemic World
Research shows that the pandemic’s impacts on women have been far-reaching and potentially long-lasting. Now that the U.S. economy is picking up steam, it may be more important than ever for women to re-examine their retirement planning strategies.
August 2021: 5 Things that Happened Affecting Small Business
As a business owner, you need to keep up with what is happening with both the government and pandemic and how it affects your business.
IRS Extends COVID-19 Relief Leave Donations
Employees can donate their unused paid vacation time, sick leave, and personal time off to qualified charities that provided COVID-19 relief through January 1, 2022.
The IRS is Resuming Collection & Enforcement Activities That Were Paused During COVID-19
Do you have a balance due with the IRS? It’s time to pay up. The IRS is resuming “certain collection and enforcement processes that had been suspended because of the coronavirus pandemic.”
Shortages and Bottlenecks Expose Weak Links in U.S. Supply Chains
As the economy reopens, consumers and businesses are again experiencing a wide array of shortages and trouble hiring workers, as well as, acquiring sufficient supplies of raw materials and key components needed for manufacturing.
Restaurant Revitalization Fund: Tax-Free Grants for Restaurants
It’s no surprise that the coronavirus pandemic significantly hurt the restaurant and hospitality business sector. The Restaurant Revitalization Fund—part of the American Rescue Plan Act—is designed to help eligible businesses keep their doors open.
SBA Raises Loan Limit For COVID-19 EIDL Loans to $500,000
The U.S. Small Business Administration (SBA) is expanding loan opportunities so that nonprofits and small businesses will be able to borrow up to $500,000 for up to 24 months.
Working from Home? Is there a Tax Deduction?
It’s been a year, and we’re still working from home! Thanks coronavirus. Can I qualify for a special tax deduction for using my home as a workplace?