Monthly Bulletins

The $2.2 trillion Coronavirus Aid, Relief, and Economic Security (CARES) Act delivers good news to individuals and businesses, including valuable tax-relief measures. Some of that tax relief is retroactive. These provisions can affect 2018 and 2019 returns that have already […]

The Coronavirus Aid, Relief, and Economic Security (CARES) Act includes several changes that encourage charitable giving during the coronavirus (COVID-19) crisis. This is welcome news for certain public charities, including churches, educational organizations, hospitals, medical research organizations and food banks. […]

Taxpayers have many questions about Economic Impact Payments (EIPs). The IRS has answered some of them on its website. For example, is an EIP considered taxable income? The IRS says it's not and taxpayers won't owe tax on it. EIPs […]

Be on “high alert” for scams related to the coronavirus (COVID-19) pandemic. The Treasury Inspector General for Tax Administration (TIGTA) has issued this urgent warning to taxpayers related to the government Economic Impact Payments that are being made to taxpayers […]

New Law Retroactively Fixes QIP Drafting Mistake

The coronavirus (COVID-19) pandemic is causing economic hardship for many people and businesses in the United States. On March 27, the $2.2 trillion Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law by President Trump. A key […]

Economic impact payment paper check mailing dates. When will you get yours?

In Notice 2020-32, the IRS has clarified that deductions for income tax purposes aren’t allowed for expenses that are otherwise deductible if the payment of the expense results in forgiveness of a covered loan.

Pandemic Unemployment Assistance for individuals who are unemployed due to COVID-19 but who do not qualify for traditional unemployment benefits.

High-deductible health plans (HDHPs) can cover coronavirus (COVID-19) costs. The IRS announced that HDHPs can pay for COVID-19-related testing and treatment, without jeopardizing their status. And an individual with an HDHP that covers these costs may continue to contribute to […]

The coronavirus (COVID-19) outbreak has had a crippling effect on the global economy. This is clearly uncharted territory. As millions around the globe do their best to minimize their exposure to the virus, business owners and managers face an uncertain […]

The coronavirus (COVID-19) pandemic has already had widespread effects on the U.S. economy. Demand for many goods and services has stalled. Unemployment claims have skyrocketed. And many schools and businesses are operating online — if at all. Life has changed […]