IRS Opens Online Portal for Stimulus Payments

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On Friday the IRS website made available an online portal for non-filers to submit their information to get their stimulus payments. Who needs to use the portal? If you receive: veterans disability compensation a pension or survivor benefits from the Department of Veterans Affairs or your income level does not require you to file a … Read more

Paycheck Protection Program for Small Biz

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The Paycheck Protection Program (“PPP”) authorizes up to $349 billion in forgivable loans to small businesses to pay their employees during the COVID-19 crisis. How much can a small business borrow under the PPP? Loans can be for up to two months of your average monthly payroll costs from the last year plus an additional … Read more

IRS Suspends Tax Payments, Collections, and Audits Until July 15th

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To help people facing the challenges of COVID-19 issues, the Internal Revenue Service announced today a sweeping series of steps to assist taxpayers by providing relief on a variety of issues ranging from easing payment guidelines to postponing compliance actions. Existing installment agreement payments suspended For taxpayers under an existing Installment Agreement, payments due between … Read more

2020 IRS Stimulus Checks / Economic Impact Payments

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On March 25, 2020 Congress unanimously passed an economic stimulus package that allows for taxpayers to receive stimulus checks of up to $1,200 per adult. On April 11, 2020, the IRS began its first wave of payments. Taxpayers who have filed tax returns for 2018 or 2019 and who have authorized direct deposit started receiving … Read more

Coronavirus Emergency Paid Leave

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The Families First Coronavirus Response Act (H.R. 6201) was passed by Senate and signed into law by President Trump on March 18th. The new law guarantees paid sick leave to employees of small businesses. Who is covered? A company that has fewer than 500 employees is now required by law to provide paid sick leave … Read more

IRS Coronavirus Tax Relief

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This page will provide updates on tax relief provided by the IRS in response to the Coronavirus pandemic. High-deductible Health Plans can Cover Coronavirus Costs On March 11, 2020, the IRS announced that high-deductible health plans (HDHPs) can pay for 2019 Novel Coronavirus (COVID-19)-related testing and treatment, without jeopardizing their status. This also means that … Read more