Have you lost your job and collecting unemployment? Or are you fortunate to be working from home because of the pandemic? Both of these situations could have tax implications.
Employers have questions and concerns about deferring employees’ Social Security taxes
The IRS has issued guidance to implement the deferral of the employee share of Social Security tax. But employers still have questions and concerns about whether, and how, to implement the deferral.
CARES Act made changes to excess business losses
If you hold an interest in a business, or may do so in the future, be aware that the CARES Act has made changes to excess business losses.
The IRS issues guidance on the executive action deferring payroll taxes
The IRS has issued guidance on the payroll tax deferral scheduled to begin on September 1. Here’s what it says.
The President’s action to defer payroll taxes: What does it mean for your business?
You may have heard the President has taken executive action to defer the employee portion of some workers’ Social Security taxes. Here’s a look at the issue.
The possible tax consequences of PPP loans
Businesses that received PPP loans should be aware of the tax consequences. Here’s a look at the issue.
What does the executive action deferring payroll taxes mean for employers and employees?
Using an executive action, President Trump defers payroll taxes from Sept. 1 through the end of the year. But there are many unanswered questions.
Some people are required to return Economic Impact Payments that were sent erroneously
Millions of people have already received their Economic Impact Payments, which are being sent by the government to help mitigate the effects of COVID-19. In some cases, the payments should be returned.
IRS guidance provides RMD rollover relief
IRS guidance has provided relief to individual taxpayers affected by COVID-19 who take distributions or loans from retirement plans and offers guidance to employers regarding the administration of loan relief.