In addition to the $1,400 stimulus payments to many Americans, the American Rescue Plan Act provides many other relief measures, and also some new business tax measures, that should be…
Category: Taxes
Is My Stimulus Payment Taxable?
As millions of people have received stimulus checks over the past year and start to spend their money, some wonder: Is my stimulus payment taxable? The short answer: No. In…
Highlights of the New Covid Stimulus Law
Stimulus checks are just part of it. Also: more unemployment, PPP, EIDL loans, Employee Retention Credit, EIC, CTC, Eviction moratorium, and more.Tax Practice Advisor The Coronavirus Response and Relief Supplemental…
IRS Reminds Taxpayers of Special $300 Charity Deduction without Itemizing
The CARES Act includes several temporary tax changes helping charities, including the special $300 deduction designed especially for people who choose to take the standard deduction, rather than itemizing their…
SBA Update for PPP Loans
Loan Forgiveness Recipients of Paycheck Protection Program (PPP) loans of $50,000 or less will be able to apply for forgiveness using a simplified application that was released by Treasury and…
2020 Stimulus Check FAQs
On March 25th, the Senate passed a $2 trillion economic rescue plan that will offer assistance to millions of American households affected by the Coronavirus. The House of Representatives is…