According to Johns Hopkins, the United States has confirmed nearly two million cases of COVID-19. With many businesses closed and taxpayers still waiting on stimulus checks, scammers are capitalizing on the shaky economic climate to cheat and steal. The Internal Revenue Service (IRS) is reminding taxpayers to be on guard against tax fraud and other related financial scams…
The impact of COVID-19 is still being felt around the country. As of today, Johns Hopkins is reporting 1,820,523 cases of COVID-19 in the United States, with over 105,644 deaths. In March of 2020, the U.S. Tax Court began taking measures to limit potential exposure to the virus inside courtrooms. Months later, the Court advises that “the…
As the COVID-19 crisis continues to roil the economy, all eyes seemed to be focused on the Paycheck Protection Program (PPP). But that’s not the only option for relief for struggling small businesses. One opportunity that’s often overlooked is the Employee Retention Credit or ERC. It’s found in the CARES Act, and like the PPP, it’s designed…
First things first: as of today, the 2019 tax filing season deadline remains July 15, 2020. I just wanted to get that out of the way since there are so many headlines suggesting that there’s a change on the way. As of today, nothing has changed. Here’s where we stand. On March 20, 2020, the IRS officially…
As COVID-19 continues to impact the United States, the federal government is taking action to ease the burden on taxpayers. There are programs in place to help businesses through the pandemic. One of those programs is the Economic Injury Disaster Loan program (EIDL). The EIDL isn’t new. It’s an existing program administered through the Small…
As COVID-19 continues to impact the United States, the federal government is taking action to ease the burden on taxpayers. Most recently, Congress passed a massive stimulus package that was signed into law by the President. The stimulus bill (also called the Coronavirus Aid, Relief, and Economic Security Act, or the CARES Act) has several moving pieces…
There’s so much happening now. Here’s where you can find information on how COVID-19 is affecting tax returns and, of course, those stimulus checks. Got questions about stimulus checks? I’ve got answers. There are separate pieces for high school seniors and college students, as well as seniors (seniors piece is updated here). IRS has pushed…
Some Internal Revenue Service (IRS) call centers and services are temporarily shutting down in response to COVID-19. COVID-19 is the official name for the infectious disease caused by the most recently discovered coronavirus. According to Johns Hopkins, as of March 27, 2020, there are 593,291 confirmed cases of COVID-19 in 176 territories and countries. The United…
(Updated: March 25, 2020) The Internal Revenue Service (IRS) isn’t shutting down completely – but it’s getting close. Some IRS call centers and return processing centers are closing in response to COVID-19. On March 13, 2020, the President of the United States issued an emergency declaration under the Robert T. Stafford Disaster Relief and Emergency Assistance…
(Note: Updated March 24, 2020) If you’re like me, you’re self-quarantining – perhaps with your family – in your home in response to COVID-19. It’s a weird new normal. And for many, it’s an anxious time. But as we worry about the health – physical and financial – of our friends and family, most of…