Taxes
Latest News
An Increase in Customer Theft is Increasing Restaurant Prices
IRS Shares Five New Warning Signs of Incorrect ERC Claims
‘Unpredictable’ Election Clouds Tax and Economic Policy View
Sanders May Bring His Populist Brand to Powerful Senate Finance Committee
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Second Round of Coronavirus Stimulus Checks, Business Relief Expected in Weeks
McConnell said he’s “pretty sure” that a bill will come together in the next couple of weeks. He said it will be crafted in his office with consultation from the administration and then negotiated with Democrats, who endorsed a ...
![Coronavirus Checks Payments Stimulus](https://www.cpapracticeadvisor.com/wp-content/uploads/sites/2/2020/07/Coronavirus_Checks_Payments_Stimulus.5f0397ab91bde.png)
Senate May Pass New Coronavirus Stimulus Bill by End of July
McConnell said he’s “pretty sure” that a bill will come together in the next couple of weeks. He said it will be crafted in his office with consultation from the administration and then negotiated with Democrats, who endorsed a $3.5 trillion package ...
![PPP Paycheck Protection Program](https://www.cpapracticeadvisor.com/wp-content/uploads/sites/2/2020/07/PPP_Paycheck_Protection_Program.5efbea0f54aa7-768x392.png)
Paycheck Protection Program Extended to August 8
President Trump has signed into law an extension of the Paycheck Protection Program.
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States Lose $16.8 Billion from Hotel Tax Revenue Due to Covid-19
Some of the hardest hit states include California (-$1.9 billion), New York (-$ 1.3 billion), Florida (-$ 1.3 billion), Nevada (-$1.1 billion) and Texas (-$940 million). These tax impacts represent the direct tax revenue decrease from the severe drop ...
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Tax Deadline Remains July 15; Taxpayers Can Get Automatic Extension to Oct. 15
The IRS has announced the tax filing and payment deadline of July 15 will not be postponed. Individual taxpayers unable to meet the July 15 due date can request an automatic extension of time to file until Oct. 15.
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Distilleries in New York May Soon Obtain DTC Licenses
The current allowable DTC rules for distilleries (8 states), breweries (10 states), and retailers (16 states) are substantially different than those for wineries (46) states. Whereas wineries can ship directly to 97% of the U.S. population, ...
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Small Businesses Still Have Time to Receive PPP Funds
The program is set to close on June 30, so there are only a few days left in the program. With billions of dollars still available, this is a unique opportunity for small businesses to access funding that has the opportunity to be completely forgiven.
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The Tricky Business of Duties Owed on International Shipments
Shipments that cross international borders are often subject to customs duties or tariffs, but sometimes they aren’t. The product being shipped may be tax exempt. Or, the value of the shipment may be under the country ...