Economic Impact Payments – Who, What, When, Where & Why

Last week the IRS began distributing economic impact payments to millions of Americans as part of the Coronavirus Aid, Relief and Economic Security Act (CARES...

Beware of Scammers in the COVID-19 Era

The IRS released COVID-19 Tax Tips that preparers need to ensure they are sharing with their clients.  The key points of the tip:  Be on the Lookout (BOLO) for IRS impersonation calls, texts and...

Paycheck Protection Program Out of Money

A key piece of the federal government's stimulus efforts to help small businesses and their employees has run out of money, shutting out thousands...

IFR Guidance on Eligibility Criteria for the Self-employed PPP Loans Issued

Yesterday, the Treasury Department issued a supplementation to the IFR released on April 2nd. This IFR is dedicated to the guidance on how self-employed...

SSI Payments are on the Way

The Internal Revenue Service, Treasury Department and the Social Security Administration announced that recipients of Supplemental Security Income (SSI) will automatically receive automatic Economic...

New Mailing Addresses for Form 941

New mailing addresses have been issued for paper Form 941, so check your mailing address before mailing. The due date has not changed, so 1st quarter payroll...

Implications of Changing the 4/15/2020 Due Date

If the last month has felt like an episode of the Twilight Zone for you, let me tell you that you are not alone. Let's dive into the 4/15/2020 deadline change and every implication to you and your clients.

Families First Coronavirus Response Act (FFCRA) Leave Decision Tree

Now more than ever, employers need timely insight as you try to navigate the multitude of issues arising from the COVID-19 pandemic, especially those related to absence management.

IRS Taxpayer Advocate Service Gets New Leader

The IRS announced the appointment of Erin M. Collins to the position of National Taxpayer Advocate (NTA) on March 30.  Collins has an extensive background...

April 15 Tax Payment Deadline Postponed

The IRS has officially announced as of March 21, 2020, that the federal income tax filing due date has been extended from April 15,...

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It’s not the CRM, it’s you — How to make tech work for you

Scene: You already have tried multiple pieces of software to solve a problem and each time you’re sold a bill of goods that does...

Child Tax Credit woes continue

Not all that surprising to tax professionals, the IRS finally has announced it has sent incorrect notices to many married filing joint couples who...

Why your practice can benefit from more structure

CPA firms typically have been organizations with well-defined structure. As COVID drastically changed working environments, more remote work and flexible schedules started shifting how...