Dec 16, 2020 | IRS, Personal Tax
As we quickly approach the beginning of the 2020 tax season, we wanted to make our clients aware that this year we also will need your IRS Notice 1444, the statement of your Economic Income Payment. This notice provides information about the amount of your payment,...
Dec 15, 2020 | Education, IRS
The IRS wants taxpayers to know of a scam involving texts & Economic Income Payments: People get a text message saying they have “received a direct deposit of $1,200 from COVID-19 TREAS FUND. Further action is required to accept this payment… Continue here to...
Sep 17, 2020 | Business Consulting, IRS
We see a lot of interest in forming nonprofit organizations around our clients’ interests and favorite causes. Does your organization qualify as a charity? The IRS lays out specific stipulations for organizations that want 501(c)3 status in their latest Tax Tip. If...
May 20, 2020 | COVID-19, IRS, Personal Tax
If you received an Economic Impact Payment (aka: federal stimulus check) in error, you should return the payment as described below: If the payment was a paper check: Write “Void” in the endorsement section on the back of the check. Mail the voided...
May 7, 2020 | Business Consulting, Corporate Tax, COVID-19, IRS
The IRS wants to remind business owners of 3 new credits available to companies hit by COVID-19. Please click the links to learn more about how your business can benefit from the Employee Retention Credit, the Paid Sick Leave Credit and the Paid Family Leave Credit....
Apr 21, 2020 | COVID-19, IRS, Personal Tax
We are still receiving questions from a number of our clients in regards to the Economic Impact Payments (EIP). Here is a recap of the qualifiers, a helpful flow chart (below) and useful links for more information. Who Qualifies? Individuals with an adjusted gross...
