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 […]
There is additional money available from the Small Business Administration (SBA) for a new round of Paycheck Protection Program (PPP) loans courtesy of the Emergency Coronavirus Relief Act of 2020. Here’s what you need to know: Requirements to Take Out a 2nd PPP Loan If you received PPP loan proceeds in 2020, and wish to […]
The U.S. Senate and House of Representatives passed an emergency $900 billion COVID-19 relief bill which the President signed into law December 27, 2020. Highlights include: Additional 2020 recovery rebates for individuals. The provision provides a refundable tax credit in the amount of $600 per eligible family member. The credit is $600 per taxpayer ($1,200 […]
