Article Highlights: Foreign Income Exclusion COVID-19 Interference Maximum Exclusion Waivers Example The IRS has provided relief for taxpayers who were working abroad and returned to the U.S. because of the COVID-19 pandemic before meeting the foreign residency requirements that…
Late Wednesday June 3, 2020 the US Senate backed the Paycheck Protection Program Flexibility Act of 2020, the House passed this bill on May 28th and it is now with President Trump for signature. Timing became a major consideration as…
Haynie and NOW CFO teamed up to educate and discuss how to utilize the forgiveness within the PPP SBA loan and better understand the new Forgiveness Application Form. If you want to maximize loan forgiveness this webinar is for you. …
The coronavirus pandemic has changed our lives in many ways, and whether you’re thinking about the physical and social aspects or the financial aspects, there is no clear end in sight. The American economy has fallen to a dramatic degree,…
The IRS issued COVID Tax Tip 2020-63 on May 28, 2020. Under the Families First Coronavirus Response Act, employers can grant paid leave for an employee to take care of their health needs related to COVID -19 or to care…
June 2020 Individual Due Dates June 1 – Final Due Date for IRA Trustees to Issue Form 5498 Final due date for IRA trustees to issue Form 5498, providing IRA owners with the fair market value (FMV) of their IRA accounts…
It’s not junk mail! Millions of people will get their Economic Impact Payment by prepaid debit card. Don’t throw yours away thinking it is just another credit card solicitation! Nearly four million people are being sent their Economic Impact Payment…
PPP Loan Forgiveness Application-At Least Some Guidance! On May 15, 2020, the SBA issued a PPP Loan Forgiveness Application which provided clarifications to several outstanding questions. Many questions are still outstanding, but we are off to a good start. The…
On May 15, 2020, the SBA released the PPP Loan Forgiveness Application. This brings more clarification to some unanswered questions. The application and instructions include the following: Options for borrowers to calculate payroll costs using an “alternative payroll covered period”…
Haynie Partner Lynne Abercrombie, CPA was a guest speaker during the PrimeGlobal Woman’s Conference in June. Lynne’s experience and leadership is a valuable addition to the conference. She was featured on a panel exploring how women in tax can thrive…
