May 11, 2020 | COVID-19, Personal Tax, Tax Planning
2020 is a unique year as far as required minimum distributions (RMDs) are concerned. The CARES Act has suspended the requirement for most 2020 IRA distributions–including some 2019 distributions that you might have personally elected to delay until 2020. For our...
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...
Apr 13, 2020 | COVID-19, IRS, Personal Tax
Late last week the federal government extended the due date for the 2020 second quarter estimated tax payment from June 15 to July 15. This means that individual tax returns, as well as individual first quarter and second quarter estimated tax payments are now all due...
Apr 10, 2020 | COVID-19, IRS, Personal Tax, Uncategorized
At Nichols & Company, we know many of you are assisting elderly parents or grandparents right now. In an effort to support you, we wanted to share that the IRS has launched a new tool to assist non-filers in registering their current information for their Economic...
Apr 7, 2020 | COVID-19, IRS, Personal Tax, Uncategorized
To help ease the financial effects of the COVID-19 pandemic, the federal government is planning to send stimulus checks to all taxpayers in the coming weeks. For your planning purposes, we wanted to share with you their guidelines for determining eligibility. It is...
Mar 24, 2020 | COVID-19, IRS, Personal Tax, Tax Planning, Uncategorized
2019 Personal tax returns do not need to be filed until 7/15/20. 2019 taxes due, as well as 1st quarter estimated tax payments, are not due until 7/15/20. NOTE: 2nd quarter estimated tax payments are still currently due on 6/15/20! 2019 IRA & HSA payments can be...
