by Integrated Tax Services | Apr 1, 2021 | COVID-19
Congress’ recent move to retroactively make a portion of 2020 unemployment income tax-free is creating havoc during this year’s tax filing season. Here is what you need to know. Background Unemployment compensation was received by millions of Americans...
by Integrated Tax Services | Mar 17, 2021 | COVID-19
On Thursday, March 11 President Biden signed a $1.9 trillion stimulus bill into law. This historic legislation affects many aspects of our country’s economic recovery, and we wanted to share how it may influence your tax situation. Although this does not cover all the...
by Integrated Tax Services | Feb 2, 2021 | COVID-19
Don’t get shocked by a high tax bill! Be prepared for these pandemic-related tax surprises when you file your 2020 tax return. Taxes on unemployment income. If you received unemployment benefits in 2020, you need to report these benefits on your tax return as taxable...
by Integrated Tax Services | Jan 4, 2021 | COVID-19
You could soon see another stimulus payment in your bank account with the recent passage of the Emergency Coronavirus Relief Act of 2020, which means more direct relief to you and your family. Here are some of the major points you need to know that are buried inside...
by Integrated Tax Services | Dec 3, 2020 | COVID-19
The time has come for businesses to start the application process for Payroll Protection Program (PPP) loan forgiveness. Last week, the IRS released Revenue Ruling 2020-27 which provides clarification on PPP loan forgiveness and deductibility of expenses incurred with...
by Integrated Tax Services | Dec 3, 2020 | COVID-19
On Nov. 20 Gov Inslee announced support for WA businesses in the form of support grants and a recovery loan program. Working WA Small Business Grants up to $20,000: Application portal became available the week of Nov. 30...
