To provide tax relief to businesses suffering during the COVID-19 pandemic, the CARES Act temporarily relaxes the limitation on deductions for business interest expense. This article explains the rules that...
If you are reading this, that means you’ve survived what will be one of the most interesting years in your life! This year has brought changes to the way we...
Authored by the Internal Revenue Service: IR-2020-185, August 18, 2020 With millions of Americans now receiving taxable unemployment compensation, many of them for the first time, the Internal Revenue Service today...
Ever since 2006, individuals age 70½ or older have been able to transfer up to $100,000 annually from their IRAs to qualified charities. These transfers are referred to as qualified...
The Coronavirus Aid, Relief, and Economic Security (CARES) Act provided a recovery rebate credit of $1,200 for individuals or $2,400 for couples and $500 per child under the age of 17...
Tax Day Moves from April 15 to July 15 This morning, the Treasury Department announced the federal tax filing and tax payment deadlines are now July 15, 2020. We expect states...
View this article in PDF format. The SECURE Act Changes IRAs and 401(k) Plans On December 20, 2019, President Trump signed into law the Further Consolidated Appropriations Act, 2020 (H.R. 1865), which...
On Dec. 20, 2019, the House and Senate passed the Consolidated Appropriations Act, 2020. This year-end spending package included many tax provisions. The bill also extends expired tax provision which...