You should still file your taxes, even if you can’t pay, as the failure-to-file penalty may be 10 times more than the failure-to-pay penalty. If you are unable to pay in full, try to […]
From the Author Archive
The CARES (Coronavirus Aid, Relief, and Economic Security) Act of 2020 provides several important provisions that may assist as our clients navigate through the financial challenges presented by COVID-19. Here are the highlights. Small […]
The IRS has issued alerts about scammers that are continuing to contact taxpayers. Among the most common are phone calls and fake emails. Thieves use the IRS name, logo or a fake website to […]
The IRS has advised that high-deductible health plans (HDHPs) can pay for 2019 Novel Coronavirus (COVID-19)-related testing and treatment without jeopardizing their status. If you have a HDHP that covers these costs, you may […]
The IRS provides a “Where’s my Refund” (https://www.irs.gov/refunds) tool to check the status of your refund. The “Where’s my Refund” tool is updated once daily, usually overnight. Your status is generally available within 24 […]
Starting on Jan. 1, 2020, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: 57.5 cents for every mile of business travel driven, a decrease […]
The IRS has made a number of changes to Form W-4, the Employee Withholding Certificate, for tax year 2020. Most employers require employees to complete a Form W-4 in order to receive paychecks. Here […]
Many taxpayers were surprised to learn that they needed to include multiple numbered schedules with their 2018 federal Form 1040s. Since the IRS has now combined some of these schedules, there are fewer numbered […]
Below is a list of the approaching tax deadlines: S-Corporation and Partnership Returns are due on March 16, 2020. Extension allowed to September 15, 2020. C-Corporation returns are due on April 15, 2020. Extension […]
Attracting investment in areas that need development is an ongoing government objective. And thanks to incentives included in the new tax law, this has become easier. The incentives are simple and substantial – if […]