Income Tax
SBA Releases New PPP Forgiveness Applications and EZ Form
The EZ application requires fewer calculations and less documentation for eligible borrowers. Details regarding the applicability of these provisions are available in the instructions to the new EZ application form.
IRS Warns Nursing Homes Not to Take Coronavirus Payments from Residents
The IRS is warning nursing home and other care facilities that Economic Impact Payments (EIPs) generally belong to the recipients, not the organizations providing the care. The IRS issued this reminder following concerns that people ...
IRS Adds E-Filing for Form 1040-X Amended Tax Returns
Making the 1040-X an electronically filed form has been a goal of the IRS for a number of years. It's also been an ongoing request from the nation's tax professional community and has been a continuing recommendation from the Internal Revenue Service ...
5 Financial Steps to Take Now During Coronavirus
Now’s a time when your goal may well be simply to ride out the next few months. That’s fine. Yet riding out the next few months isn’t the same as doing nothing. By being proactive, you can not only make the most of a bad time, but position yourself ...
IRS Continues Sending Stimulus Payment Debit Cards: Watch for Plain Envelopes
Nearly 4 million people are being sent their Economic Impact Payment by prepaid debit card, instead of paper check. The determination of which taxpayers received a debit card was made by the Bureau of the Fiscal Service, a part of the Treasury ...
IRS Sending Out New Coronavirus Stimulus Debit Cards
IRS will begin sending out four million stimulus payments on prepaid debit cards this week instead of mailing paper checks. With these so-called “Economic Impact Payments” (EIP) cards, clients can make purchases, get ...
Where’s Your Coronavirus Stimulus Payment? The IRS Adds Live Phone Operators
The Internal Revenue Service is starting to add 3,500 telephone representatives to answer some of the most common questions about Economic Impact Payments.
House Passes $3 Trillion Stimulus Plan, Includes Additional $1,200 Checks
The measure, passed 208-199, would give cash-strapped states and local governments more than $1 trillion while providing most Americans with a new round of $1,200 checks.