On Wednesday, June 3, the Senate passed the Paycheck Protection Program Flexibility Act of 2020. The bill, which had previously passed the House and which President Trump signed today, makes significant improvements to the Paycheck Protection Program (PPP) by easing the rules for loan forgiveness. Changes include
Read more →With the tax filing season quickly approaching, it’s a good time to re-visit how long to keep tax returns and other documents. The IRS generally recommends keeping copies of tax returns and supporting documents at least three years. Employment tax records should be kept at least four
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Now that the 2018 Tax Reform Bill has been signed into law and will be effective in the 2018 tax year, there is one question being asked from our clients more than anything else: Should I prepay 2018 property (or state income) taxes? Answer: From our professional
Read more →You may not know about the Alternative Minimum Tax because you’ve never had to pay it before. But if you have had to pay it, you may have wondered what in the world it is for and how it is figured. The AMT is an income tax imposed at
Read more →Imagine after filing in your annual tax return, you receive a notice from the Internal Revenue Service saying that another return has already been filed using your name and Social Security number — and claiming a refund. Sound impossible? It can happen if you become one of
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