The Coronavirus Aid, Relief, and Economic Security (CARES) Act, the stimulus bill that was signed into law on March 27, 2020, contains legislation to stabilize the economy during the coronavirus pandemic. These measures include economic recovery checks for taxpayers, as well as several other tax provisions affecting individuals. Let's take a look at a few of the highlights: Economic Impact Payments Economic impact payments "recovery checks" will be sent to taxpayers in the ne
Relief for taxpayers facing the challenges of COVID-19-related tax issues is now available through the IRS People First initiative. The projected start date will be April 1 and the effort will initially run through July 15, 2020. During this period, to the maximum extent possible, in-person contact will be avoided; however, the IRS will continue to take steps where necessary to protect all applicable statutes of limitations. Some of the highlights affecting taxpayers include:
As tax-filing season gets underway, taxpayers may be anticipating receiving their refund by a certain date, especially if they plan on making major purchases or paying bills. While some tax returns are processed quickly, others may require additional review. As such, those refunds may take longer. Just as each tax return is unique and individual, so is each taxpayer's refund. Here is what taxpayers should keep in mind as they are waiting for their refund - especially if they
Our first thought is for the safety and health of all individuals. You, your family and your customers are our top priority.
We continue our mission to assist our small business clients during this trying time, ensuring their business continuity. We are offering numerous services to our clients with completing SBA loan applications and preparing support documents for federal, state and local grant, loan and relief options. We are also consulting our clients o