Income Tax

Veterans and their beneficiaries who receive Compensation and Pension (C&P) benefit payments from VA will receive a $1,200 Economic Impact Payment with no further action needed on their part. Timing on the payments is still being determined.

The FFCRA covers the costs of this paid leave by providing small businesses with refundable tax credits. Certain self-employed individuals in similar circumstances are entitled to similar credits.

During the first 10 days of the federal government’s small-business rescue program, the spigot was wide open in Nebraska. Firms there got enough money to cover about three-fourths of the state’s eligible payrolls. It was a different picture in New York.

Specifically, researchers asked a group of 15 influential individuals working in local, regional and international public accounting firms about when they recognized the seriousness of the crisis, how the pandemic has affected their client and ...

The Tax Blotter is a roundup of recent tax news and court rulings.

With reports that the PPP’s initial $349 billion pool of funds will be fully subscribed as early as today, the need for quick and decisive action by Congress is clear. Small businesses are the nation’s economic engine and supporting and stabilizing ...

At last, The Treasury issued guidance related to self-employed individuals and how the Paycheck Protection Program (“PPP”) applies to them. If you remember, the initial CARES Act language included 1099s as part of payroll costs for small businesses ...

SSI recipients will receive a $1,200 Economic Impact Payment with no further action needed on their part. The IRS projects the payments for this group will go out no later than early May.