On March 25, 2020, IRS announced new sweeping collection and audit policies due to Coronavirus challenges. IRS calls the policies the “People First Initiative.” They will offer immediate relief to help people facing uncertainty over taxes. They include postponing certain …
Right now, our highest priority is the health of those you love and yourself. Here is a summary of IRS action already taken and federal tax legislation already enacted to ease tax compliance burdens and economic pain caused by COVID-19 …
Families First Coronavirus Response Act (Act), signed by President Trump on March 18, 2020. Treasury, IRS and Labor announce plan to implement Coronavirus-related paid leave for workers and tax credits for small and midsize businesses to swiftly recover the cost …
Meetings and Elections March is commonly the month in which many community associations hold their annual meetings and elections. Some of my clients are planning special meetings in March and April in order to vote upon certain issues. The …
The SBA has approved payment deferrals for both the 7a and 504 Loan Programs. SBA has also approved a process for Economic Injury Disaster Loans. Below are the general terms of how borrowers can apply for deferrals and/or the Economic …
As the United States prepares to hunker down in the hopes of mitigating the impact of the COVID-19 pandemic, every employer should be inquiring as to how to manage their workforce in a way that both mitigates the risks of …
Numerous sources report that for the same or similar work, women are paid about 80% of what men are paid. Although there are a variety of possible explanations for this discrepancy, many believe that it is the result of sex …
This past December, Ohio House Bill 449 was introduced which, if passed, would dramatically increase the amount of tax owed for many real estate transactions. A common tool for estate planning and asset protection is for people to place their …
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Individual Taxpayer Stimulus Relief per CARES Act
On March 27, 2020, Congress passed and the President signed into law the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”). Here are the individual non-business tax relief provisions: IRS to provide financial aid to individuals Credit allowed for …