March 17, 2021

Special Rules Apply to 2020 Earned Income Tax Credit and Child Tax Credit

Because of the pandemic, many individuals have seen their employment (earned) income plummet. In that situation, two very important tax credits, the Earned Income Tax Credit […]
March 12, 2021

The American Rescue Plan Act Passed – How Does This Affect You?

The American Rescue Plan Act has passed and includes a third, much-anticipated, economic impact payment (EIP). This is one of several government measures intended to help […]
February 17, 2021

Interaction between PPP Loans and the Employee Retention Credit

The Consolidated Appropriations Act, 2021 (CCA), which was passed by Congress and signed by the president late last December, included a very tax-beneficial provision that liberalized […]
February 17, 2021

Employee Retention Credit Extended

In order to help trades and businesses retain employees and keep them employed during the COVID-19 crisis, the Coronavirus Aid, Relief, and Economic Security (CARES) Act […]
February 10, 2021

4 Questions Business Owners Should Consider During the 2020 Tax Season

As if 2020 wasn’t challenging enough, this season’s tax-filing is going to be even more complicated than usual. Though the CARES Act and the Paycheck Protection […]
February 10, 2021

Beware: These Tax Return Red Flags Could Catch the Eye of the IRS

Tax time can be one of the most hated times of the year. Just preparing the forms is enough to be an irritant, and if you […]
February 3, 2021

Tax Time is Around the Corner! Are You Ready?

Tax time is just around the corner, and if you are like most taxpayers, you are probably facing the ominous chore of compiling records in preparation […]
January 27, 2021

IRS Offers New Identity Protection for Taxpayers

In the past, the IRS has assigned verification numbers to victims of identity theft to file their tax returns, if requested by the victimized individual. These […]
January 27, 2021

How Biden’s Rescue Plan Might Impact Your Taxes

President Biden released his “American Rescue Plan” on January 14th, 2021. The list consists of proposals he wants Congress to enact to address the COVID-19 pandemic […]