From the 'Taxation' Category:

Tax Update RE: SBA Loans, Stimulus Payment & IRS Process

Tax Update RE: SBA Loans, Stimulus Payment & IRS Process We know it continues to be a challenging and constantly changing world at present. We’re doing our best stay abreast of new developments and […]

Why Is My Refund Different Than The Amount On The Tax Return I Filed?

All or part of your refund may have been used (offset) to pay off past-due federal tax, state income tax, state unemployment compensation debts, child support, spousal support, or other federal non-tax debts, such […]

Economic Impact Payments – What You Need To Know

The Following information is from the IRS Newswire Service – March 30, 2020. Economic impact payments: What you need to know No action needed by most people at this time IR-2020-61, March 30, 2020 […]

Reduce Fees & Penalties – Did You Know?

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 […]

Relief for Small Business Clients Under the Cares Act of 2020

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 […]

Scammers and IRS Impersonation – Did You Know?

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 […]

HDHPs and COVID-19 – Did You Know?

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 […]

Where’s My Refund?

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 […]

2020 Mileage Rate Increase

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 […]

New W-4 Form for 2020 – Did You Know?

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 […]