March 18, 2020
Brian Whelan- Author's Bio
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COVID-19 Update from Presti & Naegele
COVID-19 Update from Presti & Naegele March 18, 2020 Dear Clients, Colleagues and Friends, We’ve been doing our part to slow the spread of COVID-19 over the past weeks by enabling our employees to work remotely. However, based on new guidelines issued by President Trump and the Centers for Disease Control and Prevention (CDC), Presti […]
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- March 06, 2020
- Angelica Farrell
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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 […]
Read more- March 06, 2020
- Angelica Farrell
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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 […]
Read more- March 06, 2020
- Angelica Farrell
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Fleet-Average and Vehicle Cents-Per-Mile Base Valuation Amounts Updated
Fleet-Average and Vehicle Cents-Per-Mile Base Valuation Amounts Updated Final regulations increase a vehicle’s maximum value for eligibility to use the fleet-average valuation rule or the vehicle cents-per-mile valuation rule. The regulations provide transition rules for certain employers. The final regulations are effective on February 5, 2020, the date of publication in the Federal Register. TCJA […]
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- March 06, 2020
- Elias Koumniotes
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Guidance Provided on Qualifying for EITC
Guidance Provided on Qualifying for EITC The IRS has provided guidance on qualifying for the Earned Income Tax Credit (EITC). The EITC is a refundable tax credit that is intended to be a financial boost for families with low to moderate incomes. Due to changes in marital, parental or financial status, millions of workers may […]
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