taxes, Update

What We Know So Far

The American Rescue Plan Act of 2021 created a unique situation to benefit families who are working to recover from the economic impact of the COVID-19 Pandemic. As with all new programs, there are lots of questions; add in the complicated nature of our tax code and the only answer you will get is, it depends. Here are the highlights,…

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taxes, Update

An Update from the Front Lines

The IRS has a page they keep updated and I just found this update from last Friday. I know we have several clients who have found themselves in this situation. https://www.irs.gov/newsroom/irs-operations-during-covid-19-mission-critical-functions-continue Filed an Individual Tax Return  (Form 1040) for tax year 2019 or tax year 2020, a Business Tax Return or an Amended Return (updated April 30, 2021) The IRS…

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CARES Act, Funding, Small Business

Is The Third Time The Charm?

Things in Congress have been relatively quiet of late, thank goodness. After the flurry of activity in March and April, May was a nice reprieve. However, May also brought with it an entire new set of questions to be answered.  We received the Payroll Protection Program Loan Forgiveness Application from the Small Business Association and the Final Interim Rules from…

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taxes

Planning; It Is About Taming Chaos

I think it is safe to say that most of us are living in a state of uncertainty. Confusion abounds and we are starting to get a bit stir crazy. Our frustrations from not being able to do the activities that we enjoy or having a night on the town or even knowing when or if we will go back…

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Uncategorized

A Brand New Reality, Part 1

Here we are, day 91 of 2020, in a reality that seems stranger than fiction; not only are we being asked to stay away from people, “Tiger King” is trending on Netflix, and our kids’ dream of school being closed has come true. In this bizarre new reality, the constant uncertainty and rapidly evolving economic changes are a source of…

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Uncategorized

Secret Codes

There it is. In the mailbox just over there. Your hands are sweaty, and your pulse picks up. Do you open it? Do you leave it on the counter and walk away? Do you dump it in the trash and not give it a second thought? No matter your course of action, the IRS has sent you a notice and…

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