The IRS has been in the news recently, and there are several rumors floating around on social media that we’d like to set straight. It’s simply NOT true that 87,000 IRS agents with guns will be coming after you any time soon! Here are the real facts. The Inflation Reduction Act signed by the President […]
Finally, the Small Business Administration (SBA) is about to open the application portal for the long-awaited Shuttered Venue Operators Grant (SVOG) Program, which is designed to help entertainment venues and cultural institutions weather the pandemic shut-downs. Background On December 27, 2020, the President signed into law the Consolidated Appropriations Act (CAA), which was the second […]
The IRS announced a change in the deadline for certain federal tax return and payment due dates. Here is what is extended as of this posting (March 19, 2021): 2020 Individual 1040 returns are now due May 17, 2021 2020 Individual 1040 tax payments are now due May 17, 2021 You can read the announcement […]
The American Rescue Plan Act of 2021 (ARPA) signed into law on March 11, 2021 by President Biden contains numerous tax provisions which may affect your taxes in 2020 and 2021. We’ll provide a general recap of some of the major changes in this article. Recovery Rebate The biggest news for taxpayers is a stimulus […]
Qualifying small businesses can now apply for Paycheck Protection Program (PPP) loans through certain lenders. The Small Business Administration (SBA) reopened its PPP portal on January 11, 2021 after Congress passed and the President signed legislation in December 2020, authorizing the continuation of the program and an additional $284 billion in funds. The program allows […]
The Consolidated Appropriations Act, 2021 (CAA 2021) became law on December 27, 2020, and among many other things, provided for a second round of potentially forgivable Paycheck Protection Program loans to small businesses that were financially impacted by the effects of the pandemic. The Act not only provides funds and guidelines for a round two […]
On December 27, 2020, President Trump signed into law the Consolidated Appropriations Act, 2021 which included measures for both COVID-19 relief and sweeping funding provisions for the government through September 2021. While there are many sections of this law to explore, this article will focus on the stimulus checks. Qualifying individuals will receive these economic […]
How Does the Presidential Election Affect Your Taxes?