Beware of COVID-19 Tax Scams

The IRS has issued a warning to the public to be on the lookout for a surge of calls and e-mail phishing attempts related to the coronavirus pandemic and the one-time economic impact payment. The IRS says that scammers may do the following when trying to contact you: Emphasize the words stimulus check or stimulus […]

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Be Prepared for Pandemic Tax Surprises

Several new laws provide economic relief to individuals and businesses hardest hit by this year’s pandemic. This much-needed financial assistance, however, comes with a few strings attached. Here are three potential surprises you should be prepared for if you use the available economic relief packages: Getting a tax bill for unemployment benefits. While the $1,200 […]

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COVID-19 Unemployment Questions and Answers

Over the past several weeks, millions of Americans have lost their job due to the coronavirus. In response to this unprecedented level of unemployment, Congress passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which provides individuals and businesses financial relief caused by the pandemic. If you find yourself among the millions of newly […]

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Ensure You Receive Your Stimulus Payment

In response to the COVID-19 pandemic, the government is sending $1,200 to single taxpayers with income less than $75,000 ($98,000 with phaseouts). $2,400 is being sent to married taxpayers with income less than $150,000 ($198,000 with phaseouts). An additional $500 is being sent for each child under the age of 17. The payments are based […]

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Overview of 2020 Coronavirus Tax Changes

COVID-19 has changed everyone’s schedule, including the government’s. As we wrote about last month, there have been a number of tax-related changes made this year in response to the pandemic. There have been so many changes, in fact, that we thought it might be helpful to provide an overview of the key changes that have […]

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Families First Coronavirus Response Act for Employers

The Families First Coronavirus Response Act (FFCRA), which was recently signed into law, requires certain employers to provide their employees with paid sick leave or expanded family and medical leave for specified reasons related to COVID-19. The Department of Labor’s Wage and Hour Division administers and enforces the new law’s paid leave requirements. These provisions […]

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Economic Impact Payments FAQ

The Treasury Department and the Internal Revenue Service announced on March 30 that distribution of economic impact payments will begin in the following three weeks and will be distributed automatically, with no action required for most people. However, some seniors and others who typically do not file returns will need to submit a simple tax […]

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IRS Adjusts Compliance Efforts Due to COVID-19

To help people facing the challenges of COVID-19 issues, the Internal Revenue Service recently announced a new program to assist taxpayers by providing relief on a variety of issues ranging from easing payment guidelines to postponing compliance actions. This new program, called the “IRS People First Initiative”, is meant to help people facing uncertainty over […]

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