Get information on coronavirus (COVID-19) tax relief for businesses and tax-exempt entities. Employee Retention Credit Available for Many Businesses Financially Impacted by COVID-19 The Employee Retention Credit is a refundable tax credit against certain employment taxes equal to 50% of the qualified wages an eligible employer pays to employees after March 12, 2020, and before January 1,…
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Draft instructions authorize use of ‘snapshot’ calculations TAX ALERT | October 22, 2020 For the 2020 tax year (returns filed in 2021) nearly all partnerships will be required to report the ‘tax capital’ of their partners and certain related information. As many are aware, this practice was phased-in for certain partnerships in the 2018 and 2019…
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TAX ALERT | October 27, 2020 In the Oct. 26, 2020, Exempt Organizations Update, the IRS acknowledged that some exempt organizations may have received an erroneous auto-revocation notice. Affected organizations can check their status through Tax Exempt Organization Search (TEOS) and contact the IRS via fax at 855.247.6123 to address any concerns. Background Section 6033(j) automatically revokes the exempt…
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The State of New Jersey is about to launch a number of loans
to assist small and mid-size businesses during the corona virus pandemic.
Due to the coronavirus pandemic, the federal income tax filing due date is automatically extended from April 15, 2020, to July 15, 2020. Taxpayers can also defer federal income tax payments due on April 15, 2020, to July 15, 2020, without penalties and interest, regardless of the amount owed.
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Title 1 of the Coronavirus Aid, Relief, and Economic Security (CARES) Act is the Keeping American Workers Paid and Employed Act, which provides relief for small businesses and their employees who are adversely affected by the outbreak of COVID-19.
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To choose an advisor you feel comfortable with – both personally and professionally – it’s smart to take your time, talk face to face, and ask the right questions to help you make an informed choice
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Whatever industry category your small business falls into, you cannot understate the value of a good accountant.
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