The 2017 Tax Cuts and Jobs Act introduced legislation surrounding the Opportunity Zone Program, a tax incentive program allowing tax breaks for those investing in Qualified Opportunity Zones (QOZs). The investments, in turn, initiate economic development and job creation within these designated communities under economic distress. As with almost every aspect of our personal and
Read More...
We’re now more than two weeks out from the enactment of the Coronavirus Aid, Relief, and Economic Securities Act (CARES Act), legislation that put $2.2 trillion in relief funds into action to counteract the economic hardships resulting from the COVID-19 crisis. The Act is lengthy and covers a significant amount of information. To ensure our
Read More...
As the COVID-19 crisis continues to affect our lives and business operations, both employers and employees are navigating in uncharted territory. Recent legislation has made several benefits available to certain employees affected by the crisis. In a time when questions abound and answers may feel in short supply, we want to share a valuable resource
Read More...
The IRS has released Notice 2020-18 which supersedes Notice 2020-17. This notice follows additional statements from Treasury Secretary Mnuchin on Friday March 20th about providing filing extension relief to Taxpayers. The notice provides that the due date of Federal income tax returns for Affected Taxpayers is automatically postponed to July 15, 2020. Affected Taxpayers do
Read More...
Today the US Treasury extended the filing deadline date for federal returns to coincide with the payment due date extension that was announced earlier this week. Treasury Secretary Mnuchin announced via Twitter that the Treasury and IRS “are moving Tax Day from April 15 to July 15. All taxpayers and businesses will have this additional time to
Read More...