Tax Updates

This is an update from a previous article from April 2020. If the last month has felt like an...

As you may know due to COVID-19, the tax filing and payment due date for individual taxpayers was moved from April 15th to July 15th. Many thought that, due to the climate of the economy, they would postpone the deadline again. But on June 29th, The Department of the Treasury announced they will not be further postponing the deadline.

Since its initial release, one thing has remained constant about the Paycheck Protection Program (PPP), the rules...

The Electronic Tax Administration Advisory Committee (ETAAC) submitted its annual report to Congress today, June 24. According to the announcement about the...

Last week, on June 12 (2020), Nayo Carter-Gray from 1st Step Accounting joined Liz and Will live...

Notice 2020-42 provides participants, beneficiaries, and administrators of qualified retirement plans and other tax-favored retirement arrangements with temporary relief from the physical presence...

U.S. Treasury Secretary Steven T. Mnuchin and Small Business Administration (SBA) Administrator Jovita Carranza issued the following statement today following the enactment...

The IRS released a flow chart that clearly explains The Employee Retention Credit, which is designed to encourage employers to keep employees...

Last night, the Senate passed H.R.7010 - Paycheck Protection Program Flexibility Act of 2020. This bill is heading to the President for signature today.

The Treasury Department and the IRS provided tax relief for taxpayers that develop renewable energy projects that produce electricity from sources such as wind,...