IRS guidance provides RMD rollover relief

The CARES Act was enacted in an attempt to mitigate the economic effects of the COVID-19 pandemic. Among other things, it extends favorable tax treatment to qualified individuals who take “coronavirus-related distributions” (CRDs) from IRAs, 401(k) plans and certain other…

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PPP and EIDL Programs Extended

The Paycheck Protection Program application deadline has officially been extended to August 8th.  Under the program, the SBA had approved almost 4.9 million loans, totaling $520.6 billion. Despite the program’s popularity, it had approximately $130 billion in unallocated funds when…

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Be alert to tax fraud

Fraudsters are on attack, using malicious email, text message and telephone scams designed to steal tax refunds and government stimulus checks being distributed to eligible individuals. Don’t fall for common scams: Internal Revenue Service (IRS) ChecksNo business/service can get…

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Still waiting for your stimulus check?

The delay in  receiving your stimulus check could be the result of anything from the IRS scheduling the payment for later in 2020 to the agency needing additional information before it can send the money.  Here are some of the…

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PPP Loan Forgiveness Q&A

IMPORTANT NOTE: The SBA and the Treasury Department have released the eagerly awaited Paycheck Protection Program (PPP) loan forgiveness application and detailed instructions. The Application and Instructions do not answer all key questions, but a number of calculations and substantive…

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