With RMDs Suspended for 2020, Should We Take Some Gains?
While we would all love a tax break now, maybe in the long term it would be better if we were to take advantage of this situation and clear out of some of those large gains.
Small Business Relief under the CARES Act
Download this helpful overview of the Small Business Relief program under the CARES Act from our friends at Steptoe:
Emergency Paid Sick Leave, Expanded FMLA, and Related Employer Tax Credits
Have an employee with coronavirus? The CARES Act provides for paid sick leave for the employee and tax credits for your expenses.
IRS Provides Online Tools for Recovery Rebates
The IRS launched an online tool for those who don’t normally file a tax return or have too little income to file to register for Economic Impact Payments.
Business Tax Provisions of the CARES Act
The CARES Act aims to help businesses keep employees during closures because of COVID-19. Learn more about the Employee Retention Credit and Delaying Payroll Taxes.
IRS Issues Guidance on Tax Credits for Coronavirus Paid Leave
Check out this bulletin prepared by our friends at Pritchard & Jerden, Inc. that details how small and midsize employers can use two new refundable payroll tax credits for coronavirus paid leave.
CARES Act: Economic Impact Payments Issued Within Three Weeks via Direct Deposit
Thanks to the CARES Act, your Economic Impact Payment of up to $1,200 for individuals or $2,400 for married couples and up to $500 for each qualifying child will be deposited directly into the same bank account used on your tax return within three weeks.
CARES Act: Required Minimum Distributions waived, but I already took my 2020 RMD!
If you have already taken your 2020 RMD, and you don’t need the money, the CARES Act gives you some options.
What You Need To Know: Coronavirus and Your Taxes
The COVID-19 outbreak is affecting every facet of our lives—including our taxes. This article addresses frequently asked questions about how you may be impacted.
Tax Relief Provided by The CARES Act
There are several tax-related provisions in the Coronavirus Aid, Relief, and Economic Security (CARES) Act for both individuals and businesses.