For Businesses With 3 to 20 Employees – US Chamber of Commerce Small Business Grant Fund

For Businesses With 3 to 20 Employees – US Chamber of Commerce Small Business Grant Fund April 20, 2020 Dear Clients, Colleagues and Friends, The US Chamber of Commerce has launched the “Save Small Business Grant Fund”. Funded by contributions from corporate and philanthropic partners, the program provides $5,000 supplemental grants for small employers with […]

Further IRS Due Date Changes & Stimulus Payment Information

Further IRS Due Date Changes & Stimulus Payment Information April 14, 2020 Dear Clients, Colleagues and Friends, The Internal Revenue Service (IRS) has announced Additional Relief for Taxpayers Affected by the Ongoing Coronavirus Pandemic (Notice 2020-23). Please see below for a brief summary of these updates: The IRS has extended returns and payments that would […]

Uncle Paul’s Pizza Offering Medical Workers Free Meals For 2 Weeks

Uncle Paul’s Pizza Offering Medical Workers Free Meals For 2 Weeks https://wcbs880.radio.com/articles/news/nyc-pizzeria-offering-workers-free-meals-for-2-weeks Sean Adams March 26, 2020 – 8:31 am NEW YORK (WCBS 880) — Uncle Paul’s Pizza near Grand Central has seen an 85 percent decline in traffic due to the coronavirus pandemic, causing owner Dino Redzik to close down four other locations and furlough […]

Founder of Rethink, Matt Jozwiak, to make free or low-cost meals for New Yorkers in Need

Founder of Rethink, Matt Jozwiak, to make free or low-cost meals for New Yorkers in Need A group called Rethink has teamed up with the Michelin-starred restaurant to feed New Yorkers in need. https://www.nytimes.com/2020/04/02/dining/eleven-madison-park-free-meals-coronavirus.html Daniel Humm, center, and staff in the dining room at Eleven Madison Park, which has closed in the health crisis but […]

Due Date for Federal Income Tax Payments Extended to July 15

Due Date for Federal Income Tax Payments Extended to July 15 The Treasury Department and IRS have extended the due date for the payment of federal income taxes otherwise due on April 15, 2020, until July 15, 2020, as a result of the ongoing coronavirus (COVID-19) emergency. The extension is available to all taxpayers, and […]

HSA High-Deductible Health Plans Can Cover Coronavirus Costs

HSA High-Deductible Health Plans Can Cover Coronavirus Costs The IRS has provided emergency relief for health savings accounts (HSAs) and COVID-19 health plans costs. Under this relief, health plans that otherwise qualify as high-deductible health plans (HDHPs) will not lose that status merely because they cover the cost of testing for or treatment of COVID-19 […]

2021 Budget Outlines Administration Priorities for Extending Tax Cuts, Increased IRS Funding

2021 Budget Outlines Administration Priorities for Extending Tax Cuts, Increased IRS Funding On February 11, the White House released President Donald Trump’s fiscal year (FY) 2021 budget proposal, which outlines his administration’s priorities for extending certain tax cuts and increasing IRS funding. Treasury Secretary Steven Mnuchin testified before the Senate Finance Committee (SFC) on February […]

AICPA Asks for More QBI Deduction Guidance

AICPA Asks for More QBI Deduction Guidance The American Institute of CPAs (AICPA) has requested additional guidance on tax reform’s Code Sec. 199A qualified business income (QBI) deduction. 199A Deduction GuidanceThe IRS issued final and proposed regulations in February 2019 on the Code Sec. 199A QBI deduction enacted in 2017 under the Tax Cuts and Jobs Act (TCJA) ( P.L. […]

Calculation of “Average Income” Minimum Set Aside Test for Low Income Housing Credit Explained

Calculation of “Average Income” Minimum Set Aside Test for Low Income Housing Credit Explained Taxpayers claiming the low-income housing credit should apply the “average income” minimum set aside test by reference to the “very low-income” limits calculated by the U.S. Department of Housing and Urban Development (HUD) for purposes of determining eligibility under the HUD Section 8 program. HUD […]

Schedule Your Small Business Success Consultation

Archive for April 20th, 2020

For Businesses With 3 to 20 Employees – US Chamber of Commerce Small Business Grant Fund

Further IRS Due Date Changes & Stimulus Payment Information

Uncle Paul’s Pizza Offering Medical Workers Free Meals For 2 Weeks

Founder of Rethink, Matt Jozwiak, to make free or low-cost meals for New Yorkers in Need

Due Date for Federal Income Tax Payments Extended to July 15

HSA High-Deductible Health Plans Can Cover Coronavirus Costs

2021 Budget Outlines Administration Priorities for Extending Tax Cuts, Increased IRS Funding

AICPA Asks for More QBI Deduction Guidance

Calculation of “Average Income” Minimum Set Aside Test for Low Income Housing Credit Explained

Recent Posts

Archives

Contact Us

Newsletter

Our Locations

Subscribe to Receive Updates