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Late Tax Legislation Creating Havoc

Late Tax Legislation Creating Havoc

by | 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...
$1.9 Trillion Stimulus Package Details

$1.9 Trillion Stimulus Package Details

by | 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...
More Stimulus Payments on the Way

More Stimulus Payments on the Way

by | 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...

Tax Effect of PPP Loan Forgiveness

by | 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...