Last round of ITINs will expire in 2020

More than 1 million Individual Taxpayer Identification Numbers are set to expire at the end of 2020 as the Internal Revenue Service completes the expiration of ITINs assigned prior to 2013. The IRS continues to urge affected taxpayers to submit…

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Handling Your Investments During the Pandemic

COVID-19 has created worldwide economic upheaval and many concerns for all of us. One question I hear frequently is how to adjust your investment strategy when there’s an unusual event such as a pandemic. Here are some tips for navigating…

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PPP loan forgiveness? Don’t rush in

On Aug. 10, the U.S. Small Business Administration opened its loan forgiveness portal in the wake of a contested battle about future legislation for COVID-19 relief. There are several reasons why business owners may not want to rush into completing…

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What’s In the Recent Executive Orders?

In advance of a new stimulus package agreement, the White House issued an executive order and three memoranda over the weekend. This executive action is said to provide economic relief during the current recession caused by the coronavirus.   Here are…

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New Stimulus Proposal: The Heals Act

An intensifying coronavirus pandemic has prompted Congress to look at a second round of stimulus as the recession continues to deepen. On July 27th, Senate Republicans announced the Heals Act (Health, Economic Assistance Liability Protection & Schools Act), a $1…

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Update: nonprofit fraud

Every two years, the Association of Certified Fraud Examiners (ACFE) publishes what has become the definitive guide for preventing and detecting workplace fraud. The recently released Report to the Nations: 2020 Global Study on Occupational Fraud and Abuse draws conclusions…

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Is your nonprofit’s tap running dry?

The COVID-19 crisis has put enormous financial stress on many not-for-profits — whether they’re temporarily shut down or actively fighting the pandemic. If cash flow is a problem, your organization may need to do more than trim expenses. Here’s how…

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Main Street Lending Program open to nonprofits

In late July, the Federal Reserve announced that not-for-profit organizations  may now apply for loans under the $600 billion Main Street Lending Program. Previously open only to for-profit businesses with more than 100 employees, the program offers low-interest loans with…

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Assessing productivity in a pandemic

The COVID-19 crisis is affecting not only the way many businesses operate, but also how they assess productivity. How can you tell whether you’re getting enough done when so much has changed? There’s no easy, one-size-fits-all answer, but business owners…

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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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