Federal Tax

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What SMB Clients Need to Know About the Families First Coronavirus Response Act
As COVID-19 sends shock waves through nearly every industry, one of the biggest challenges for businesses is adapting to fast-moving legislative updates. On March 18, 2020, President Trump signed the second bipartisan stimulus package, the...
IRS Provides Information on the Employee Retention Credit
The Treasury Department and the Internal Revenue Service today launched the Employee Retention Credit, designed to encourage businesses to keep employees on their payroll. The refundable tax credit is 50% of up to $10,000 in wages paid by an...
Economic impact payments: What you need to know
The Treasury Department and the Internal Revenue Service today announced that distribution of economic impact payments will begin in the next three weeks and will be distributed automatically, with no action required for most people. However,...
Massive Coronavirus Stimulus Package Contains Many Significant Tax and Employee Benefits Provisions
The Cares Act is a massive 2.2 trillion dollar package that contains a number of provisions to assist the United States economy combat the impact of COVID-19.
IRS - changes in procedures digital signatures & sending receiving information electronically
There is an immediate (temporary) change in IRS procedures regarding digital signatures, receiving taxpayer information electronically and transmitting information to a taxpayer or their representative. The IRS now allows IRS employees to...
Update: IRS closes information service lines
Due to staff limitations, the PPS line, the e-Services Help Desk line and the e-Services, FIRE and AIR system help desks are closed until further notice. Please make IRS.gov your first option for answers to questions. The IRS is temporarily...
Senate passes massive $2 trillion coronavirus spending bill
Among other things, the legislation would boost unemployment insurance, send checks to many Americans and bar President Donald Trump from receiving any aid.
IRS unveils new People First Initiative; COVID-19 effort temporarily adjusts, suspends key compliance programs
To help people facing the challenges of COVID-19 issues, the Internal Revenue Service announced today a sweeping series of steps to assist taxpayers by providing relief on a variety of issues ranging from easing payment guidelines to postponing...
IRS post FAQs in regards to tax payment and filing relief announced last week
These questions and answers will be updated periodically and are designed to be a flexible tool to communicate information to taxpayers and tax professionals in this changing environment.
Tax Day now July 15: Treasury, IRS extend filing deadline and federal tax payments regardless of amount owed
This deferment applies to all taxpayers, including individuals, trusts and estates, corporations and other non-corporate tax filers as well as those who pay self-employment tax.

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