2020 Deficits and Potential Payroll Tax Holiday
California Health Insurance Penalty:
https://www.coveredca.com/individuals-and-families/getting-covered/penalty-and-exemptions/
Guidance addresses deductibility of expenses related to Paycheck Protection Program loans:
https://newsletters.usdbriefs.com/2020/Tax/TNV/200501_1.pdf
$3.7 Trillion Deficit:
https://newsletters.usdbriefs.com/2020/Tax/TNV/200501_3.pdf
Fewer People filed by April 15th:
https://www.cpapracticeadvisor.com/tax-compliance/news/21135618/21-million-taxpayers-delayed-filing-past-april-15
Payroll Tax Holiday
https://www.washingtonexaminer.com/news/white-house-strongly-considering-demand-to-include-payroll-tax-cuts-in-next-relief-package
IRS Clarifies Home Sales Rules
Did you know the IRS Clarifies home sales rules? For many of us, the equity that we have built up in our homes represents a comfortable nest egg for the future. At retirement, many people sell the family primary residence defined and move to a smaller, less expensive home. The freed-up money, thereafter invested, may…
Request Telephone Tax Refund By Amending Your Return
Request Telephone Tax Refund By Amending Your Return Maybe you filed your federal tax return, received a refund and even spent the last penny before realizing that you missed out on a one time opportunity to request the Telephone Excise Tax Refund! Luckily, some opportunities do call twice. You can still request the telephone tax…
Tax Saving Strategies For Business Owners
[vc_row][vc_column][vc_column_text] Tax Saving Strategies For Business Owners 1. Did you know you can use your previously funded IRA to fund the current year’s deductible contributions? Well, you can. If you don’t have enough cash to make a deductible contribution to your IRA by April 15th, here is how you can still take the tax deduction.…
Credit Default Swaps – Impose A Tax On Bogus Insurance
[vc_row][vc_column][vc_column_text] Credit Default Swaps – Impose A Tax On Bogus Insurance By Ron Cohen, CPA, MST Partner Greenstein, Rogoff, Olsen & Co., LLP Proposal to amend the U.S. Internal Revenue Code: Any Seller, Buyer or Insured Party who enters into a Credit Default Swap (“CDS”) contract insuring U.S. source risks will be subject to an excise…