News & Information: Accounting, Tax and COVID-19 Resources
The IRS is warning you to be on the lookout for a surge of calls and e-mail phishing attempts related to COVID-19. They will come in the form of e-mails, text messages, websites and social media attempts that request money or personal information. It can come in many forms The... The Families First Coronavirus Response Act (Act) provides paid sick leave and expands family and medical leave for COVID-19 related reasons and creates the refundable paid sick leave credit and the paid childcare leave credit for eligible employers. Eligible employers are businesses and tax-exempt organizations with fewer than 500 employees... The programs and initiatives in the Coronavirus Aid, Relief, and Economic Security (CARES) Act that was just passed by Congress, are intended to assist business owners with whatever needs they have right now. When implemented, there will be many new resources available for small businesses, as well as certain non-profits and other... Congress passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act in an effort to make a significant impact on the economy and provide needed cashflow to taxpayers struggling with the impact of COVID-19. The CARES Act provides tax relief and tax incentives for individuals and businesses alike. Included in... Under the CARES Act, the limitation on the deduction of excess business losses for noncorporate taxpayers will not apply for tax years beginning in 2018, 2019 and 2020.An “excess business loss” is the excess of a taxpayer’s aggregate deductions for the tax year from its trades or businesses over the...
