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Latest Tax
Alerts
Check out the latest tax
alert section of our website, full of links and articles
for professional and personal tax news. Read
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IRS Addresses Queries on COVID-19 Economic Impact Payments; No Return Required for Certain Social Security Recipients
The IRS announced on March 30 ... Read
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IRS Addresses Bonus Depreciation, Related Issues for Post-2017 Qualified Improvement Property
As a result of the retroactive assignment of a 15-year ... Read
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Guidance on NOL Carryback Under CARES Act
The IRS has issued guidance ... Read
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IRS Allows Temporary Filing by Fax for Forms 1139 and 1045
TThe IRS is allowing taxpayers ... Read
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Guidance on 163(j) Elections for Legislation, Farming, Real Property
The IRS has released guidance ... Read
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BBA Partnerships Can Amend Returns for CARES Benefits
The IRS has set forth rules for ... Read
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Presti &
Naegele
Contact us at: Tel:(212)736-0055
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Get My Payment Tool Available for Economic Impact Payments
By: Andrew Presti, Senior Partner
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The Treasury Department and the IRS have released the "Get My Payment" tool to assist Americans in receiving their “economic impact payments” issued under the bipartisan Coronavirus Aid, Relief, and Economic Security (CARES) Act ( P.L. 116-136). The free tool went live on April 15, and is located at https://www.irs.gov/coronavirus/get-my-payment.
Get My Payment
The "Get My Payment" tool generally allows consumers to check the status of their payments ... Read
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Due Dates Extended for Additional Filings and Payment Obligations
By:
Salvatore Russo, CPA, Partner
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The Treasury Department and IRS have provided a notice with additional relief for taxpayers, postponing until July 15, 2020, a variety of tax form filings and payment obligations that are due between April 1, 2020 and July 15, 2020. Associated interest, additions to tax, and penalties for late filing or late payment will be suspended until July 15, 2020. Additional time to perform certain time-sensitive actions during this period is also provided... Read
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Lawmakers Continue Phase Four Economic Relief Talks; “CARES 2” in the Works
By: Elias Koumniotes, Senior Tax Manager
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Lawmakers are continuing talks on a "phase four" economic relief package in response to the COVID-19 global pandemic. To that end, the House’s "CARES 2" package is currently in the works and could see a floor vote as early as this month.
"The acceleration of the coronavirus crisis demands that we continue to legislate," Pelosi said in a "Dear Colleagues" letter... Read
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