It was announced on March 20 that Tax Day would be postponed from April 15 to July 15 to coincide with the delayed tax payment deadline at the direction of President Trump. Treasury Secretary Steven Mnuchin announced the postponement via Twitter, stating that all taxpayers and businesses will have until July 15 to file and make payments without interest or penalties. We know you have lots of questions. Below is a summary of the 10 most common questions and the IRS’s response.
Small businesses are now eligible for up to $2 million in Economic Injury Disaster Loans from the Small Business Administration (SBA) after President Trump called for an additional $50 billion in funding to the SBA’s lending program from Congress in response to COVID-19.
Congress passed and President Trump signed the Families First Coronavirus Response Act (FCCRA) on March 18, 2020; it will become law 15 days after the signing. The bill provides paid sick leave, free coronavirus testing, expansion of food assistance and unemployment benefits, and requires employers to provide additional protections for health care workers.
Stay on top of your individual and business limits and deductions for 2020 with this recap.
This guide serves as a checklist to help ensure your business meets your compliance responsibilities for 2019.
This guide offers several opportunities for tax savings for businesses before year-end 2019.
This guide contains strategies to help you save on your taxes if enacted before year-end 2019.
This year brought numerous changes to the tax preparation and planning process for both individuals and businesses. Consider the following before filing your 2019 taxes:
Thousands of people fall victim to IRS scams every year and end up paying millions of dollars to scammers. Learn more about the most recent tax scams here:
The Tax Cuts and Jobs Act (TCJA) created the Qualified Business Income (QBI) deduction for tax years 2018-2025. Essentially, certain elements (but not all) of a business owner’s income are getting a tax break.
