Posted on March 25, 2020
by
Rick Bazzani
The IRS has clarified that the extension of the 2019 federal income tax filing deadline to July 15, 2020, also applies to taxpayers’ contributions to traditional IRAs, solo 401(k)s and health savings accounts (HSAs). Generally, the deadline for making these contributions is the due date of the taxpayer’s federal income tax return filing, which is […]
The IRS has clarified that the postponement of the due date for 2019 federal income tax filings and payments to July 15, 2020, also applies to installment payments of repatriation tax on foreign earnings and base erosion and anti-tax abuse tax (BEAT) that would otherwise be due on April 15. The Tax Cuts and Jobs Act […]
Posted on March 24, 2020
In response to COVID-19 and its impact on U.S. taxpayers, the IRS officially postponed the 2019 federal income tax filing and payment deadlines from April 15, 2020, to July 15, 2020. These automatic filing and payment extensions apply to all individual taxpayers (including the self-employed), trusts and estates, C corporations, partnerships, limited liability companies (LLCs) and other […]
On March 18, President Trump signed into law the Families First Coronavirus Response Act (FFCRA), offering much needed relief to many American families and businesses in the wake of the COVID-19 pandemic. Among the provisions included in this second package of aid are the Emergency Paid Sick Leave Act (“The Paid Sick Leave”) and the Emergency […]
Posted on March 16, 2020
Global equity markets declined dramatically on March 12, as fear and uncertainty surrounding the novel coronavirus (COVID-19) pandemic continued to mount. U.S. stocks took their biggest single-day drop since 1987, bringing the country’s longest economic expansion in history to a screeching halt. Whether the financial damage to investors’ portfolios will continue is unknown. Yet, based […]
Posted on March 16, 2020
by
Daniel Hughes
The novel coronavirus (COVID-19) is having a profound impact on lives, businesses and commerce across the globe. As the disease continues to spread, countries have closed their borders, financial markets have fallen, supply chains have become disrupted and businesses are facing the potential of mounting losses that may continue for some time. The longer it […]
Posted on March 16, 2020
by
Joseph Saka
The Small Business Administration (SBA) announced it will offer up to $2 million in low-interest disaster-recovery loans to support the nation’s 30 million small businesses suffering losses due to the novel coronavirus (COVID-19). Under the Economic Injury Disaster Loan program, the SBA will provide states and territories with federal aid to help qualifying small businesses […]
