Blog
Receive an Economic Impact Payment in Error?
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 Treasury check...
Several Ohio Counties Have Granted Extensions to Pay Property Taxes
Note: each county appears to have their own new due date! Belmont (from July 20, 2020 to August 21, 2020) Cuyahoga (from July 20, 2020 to August 13, 2020) Delaware (from July 20, 2020 to August 20, 2020) Franklin (from July 20, 2020 to August 5, 2020) Geauga (from...
CARES Act Changes To RMDs For 2020
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...
Business Owners: There Are 3 New Tax 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.
Congress Approves Additional $310 Billion for Small Business PPP Loans
We encourage those who qualify to move quickly to secure loans from this second round of funding. Please contact us via email if you need any assistance in determining if you should apply.
Specific Guidance for Self-Employed Small Businesses & the PPP Loan Application
We encourage our clients who would benefit from a Paycheck Protection Program (PPP) loan to take advantage of it.
Still Have Questions About Those Economic Impact Payments?
Here is a recap of the qualifiers and a helpful flow chart with useful links for more information about getting your Economic Impact Payment (EIP). The IRS also warns tax filers to beware of phishing scams related to your EIP.
Second Quarter Estimated Tax Payments Now Due July 15th
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...
Economic Impact Checks for Non-Filers: How to Provide Your Current Information to the IRS
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...