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IRS Is Issuing Economic Impact Payments to Spouses That Are Due Child Support

September 2, 2020
stimulus check

The IRS is sending economic impact payments (EIPs) to individuals whose portion of the EIP was diverted to pay their spouse’s past-due child support. Approximately…

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What You Need to Know About the Payroll Tax Deferral

September 1, 2020
employee retention credit

The IRS released guidance on the payroll tax deferral from the Presidential Memorandum issued on August 8, 2020, which allows employers to defer withholding and…

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Temporary Procedures for Electronic Signatures on Certain IRS Forms

August 31, 2020
net operating losses

The IRS is temporarily allowing the use of electronic or digital signatures on certain forms that can’t be filed electronically. This procedure is being put…

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Paycheck Protection Program Loan Forgiveness: Treatment of Owners and Certain Nonpayroll Costs

August 27, 2020
ppp loan forgiveness

New guidance has been issued by the US Small Business Administration (SBA) and Treasury Department regarding Paycheck Protection Program (PPP) loan forgiveness of owner-employee compensation…

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6 Areas of Your Business to Re-evaluate and Become More Resilient in the New Normal

August 26, 2020
business resilience

The COVID-19 pandemic has dramatically changed business operations for the foreseeable future. Businesses are being forced to evaluate their current operations and adjust to a…

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IRS Temporarily Suspends Mailing Certain Notices

August 25, 2020
tax planning

The IRS has suspended mailing three notices that go to taxpayers who have a balance due on their taxes. The notices are the CP-501, the…

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Did You Hire a Nanny This Year Due to COVID-19? You May Owe “Nanny Tax”

August 20, 2020
nanny tax

Many parents are hiring nannies and babysitters because their daycare centers and summer camps are closed this year due to COVID-19. This may result in…

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You May Receive a Tax Interest Payment This Week

August 19, 2020
employer tax credit

The IRS and Treasury Department will send interest payments this week to taxpayers who filed a 2019 tax return by the July 15 deadline and…

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Delays Processing IRS Tax Payments

August 18, 2020
tax refunds

Taxpayers that mailed checks to the IRS may be in the backlog of mail the IRS is still processing due to office closures because of…

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Economic Impact Payments: Registration Reopens to Claim Children

August 17, 2020
stimulus check

The IRS reopened the registration period for federal beneficiaries who didn’t receive $500 per child economic impact payments (EIPs) earlier this year. From August 15…

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