Cybercriminals are working overtime and are taking advantage of the heightened anxiety and fear most of us are dealing with right now due to the Coronavirus pandemic. It’s easy to get distracted from staying vigilant about your tech security when…
Many schools and childcare facilities have been closed due to the coronavirus (COVID-19) pandemic, adding to the challenges employees and employers now face. You may have employees asking if dependent care assistance program (DCAP) elections can be changed or revoked.…
If you own a home, the interest you pay on your home mortgage may provide a tax break. However, many people believe that any interest paid on their home mortgage loans and home equity loans is deductible. Unfortunately, that’s not…
Last week, the IRS provided updated guidance (in Notice 2020-23) on several extended deadlines including: The extension to July 15, 2020 for all federal individual or business income tax filings and estimated payments. The notice expanded relief to apply to…
The Coronavirus Aid, Relief, and Economic Security (CARES) Act provides roughly $2 trillion of much-needed financial relief to individuals and businesses in response to the coronavirus (COVID-19) pandemic. One CARES Act provision temporarily relaxes the Tax Cuts and Jobs Act…
As we all try to keep ourselves, our loved ones, and our communities safe from the coronavirus (COVID-19) pandemic, you may be wondering about some of the recent tax changes that were part of a tax law passed on March…
If you are feeling confused about the CARES Act, Payroll Protection Program and other recently released legislation, you’re not alone. In this article, we are addressing a few of the most commonly asked questions we’re hearing from clients along with…
In a new low, attackers are capitalizing on the fear and anxiety of thousands of people with a new phishing email scheme designed to have users open malicious emails allegedly coming from a local hospital. In one version, the email…
A QCD is a direct transfer of funds from your IRA custodian to a qualified charity. QCDs are not taxable and can be counted toward satisfying your required minimum distribution (RMD) for the year, so long as certain requirements are…
Generous employers who want to provide financial assistance to struggling employees have an option thanks to Internal Revenue Code Section 139, which allows employers to make non-taxable qualified disaster relief payments to employees who are impacted by the coronavirus. The…