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The IRS is issuing Economic Impact Payments. These payments are being issued automatically for most individuals. However, some people who don’t usually file a tax return will need to submit basic information to the IRS to receive their payment....
The IRS is sending Economic Impact Payments to eligible individuals. Many taxpayers may be wondering how to get their payment as soon as possible. Most of them don’t have to do anything. Most payments will be sent automatically.Taxpayers who...
SSA, RRB recipients with eligible children need to act by Wednesday to quickly add money to their automatic Economic Impact Payment; IRS asks for help in the ‘Plus $500 Push’ WASHINGTON – The Internal Revenue Service today issued a...
The IRS is regularly updating the Economic Impact Payment and the Get My Payment tool frequently asked questions pages on IRS.gov as more information becomes available. Taxpayers should check the FAQs often for the latest additions; many common questions...
For additional questions regarding the Economic Impact Payments visit our Economic Impact Payments Information Center. Here is what you need to know about your Economic Impact Payment (EIP). For most taxpayers, payments are automatic, and no further action is needed....
WASHINGTON – The Internal Revenue Service, working in partnership with the Treasury Department and the Social Security Administration, announced today that recipients of Supplemental Security Income (SSI) will automatically receive automatic Economic Impact Payments. SSI recipients will receive a...
The Small Business Administration (SBA) released a new interim rule late on April 14th stipulating that a partner in a partnership cannot submit a separate application for a PPP loan as a self-employed individual. Click Here to Read NEW...
Last month, the IRS announced that certain taxpayers generally have until July 15, 2020, to file and pay federal income taxes originally due on April 15. The IRS has extended this relief to additional returns, tax payments and other...
If you had our fees taken out of your refund then you need to read this: Will Refund Advantage be getting Economic Impact Payments? The IRS has stated that they will be distributing Economic Impact Payments directly to individuals....
Filing for unemployment, loans, or even waiting for a stimulus check? Accountants have some advice for you.
Employed full or part time? Unemployed? A temporary or gig worker? Retired or disabled? Receive public benefits? Have no income? Most U.S. residents – under certain income levels – will receive the Economic Impact Payment if they are not...
Check your stimulus check here
WASHINGTON – The Internal Revenue Service today issued guidance providing tax relief under the CARES Act for taxpayers with net operating losses. Recently the IRS issued tax relief for partnerships filing amended returns. COVID Relief for taxpayers claiming NOLsRevenue...
Governor Tom Wolf announced today the Pennsylvania Department of Labor & Industry (L&I) is implementing new federal unemployment compensation benefits provided by the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The COVID-19 relief package temporarily provides an additional $600...
IRS.gov feature helps people who normally don’t file get payments; second tool next week provides taxpayers with payment delivery date and provide direct deposit information WASHINGTON – To help millions of people, the Treasury Department and the Internal Revenue...
Who is eligible for the Economic Impact Payment? U.S. citizens or resident aliens who: Have a valid Social Security number, Could not be claimed as a dependent of another taxpayer, and Had adjusted gross income under certain limits. Who...
Financial experts agree that an economic rebound from the COVID-19-induced recession won’t happen until public health officials lift social distancing orders and allow companies to resume business operations. Until then, federal officials are working with local lenders to help...
Among the many provisions of the $2.2 trillion dollar CARES Act passed by Congress in March are several directed at retirement plans. These provisions loosen the usual restrictions on qualified accounts for those suffering economically from the current emergency. —...
Earlier this week, the IRS released IR-2020-61, which includes a statement that “some seniors and others who typically do not file returns will need to submit a simple tax return to receive the stimulus payment.” Knowing that this directly...
WASHINGTON — The Internal Revenue Service today urged taxpayers to be on the lookout for a surge of calls and email phishing attempts about the Coronavirus, or COVID-19. These contacts can lead to tax-related fraud and identity theft. “We...
