by | May 14, 2020 | Tax Tips and News
How many Economic Impact Payments have been issued? Many Economic Impact Payment reporting deadlines are now fixed in the country’s rear-view mirror, and millions of Americans have started receiving payments from the US Treasury Department. That begs the question:...
by | May 12, 2020 | Tax Tips and News
The US Treasury Department has found a loophole in the stimulus payments sent out to individuals. Some of the recipients were actually deceased—and Treasury wants that money back. Accounting Today magazine reports the government became aware in April when some people...
by | May 9, 2020 | Tax Tips and News
The Internal Revenue Service is reminding employers who have been impacted by the Coronavirus pandemic that three new credits are available for them. The first of these, the Employee Retention Credit, is intended to encourage businesses to keep employees on the...
by | May 8, 2020 | Tax Tips and News
From mid- to late-March, the Tax Court cancelled a number of pending cases amid safety concerns stemming from the growing threat of the COVID-19 epidemic. Despite defendants no longer having their expected day in court, the orders suggested that all involved parties...
by | May 7, 2020 | Tax Tips and News
While most of the news is about the coronavirus these days—for good reason—some state governments are finding their bottom lines may fall ill due to rapidly falling oil prices. In April, the price for West Texas Intermediate crude oil, the benchmark for crude oil...
by | May 6, 2020 | Tax Tips and News
Some low-income Americans may need to report EIP-qualifying information to the IRS. With the dependent-reporting deadline for non-filers who are automatically receiving their Economic Impact Payment passed, the Internal Revenue Service reminded low-income Americans...
