Corona Virus Relief (CARES ACT)
Today we’re talking all about the Corona Virus Relief (The Cares Act)
Tax and loan issues summary article from Forbes:
https://www.forbes.com/sites/anthonynitti/2020/03/25/congress-reaches-agreement-on-a-coronavirus-relief-package-tax-aspects-of-the-cares-act/#3d3a762f5f99
Other issues article from Forbes:
https://www.forbes.com/sites/kellyphillipserb/2020/03/25/senate-passes-coronavirus-stimulus-bill-house-expected-to-follow-suit/#29cd2bb94475
Here is an article on how Enhanced Unemployment Benefits will work: https://www.americanactionforum.org/insight/enhanced-unemployment-benefits-in-the-coronavirus-aid-relief-and-economic-security-cares-act/
More detailed information on the Paycheck Protection Program:
https://bench.co/blog/operations/paycheck-protection-program/
Text of Bill (Scroll down in the link)
https://www.congress.gov/bill/116th-congress/house-bill/748/text
SBA rules for PPP loans (4/4/2020)
https://www.sba.gov/sites/default/files/2020-04/PPP–IFRN%20FINAL_0.pdf
IRS Redirects Its Approach To Ensure Withholding Compliance
IRS Redirects Its Approach To Ensure Withholding Compliance The IRS has released temporary and proposed regulations (REG-162813-04 & TD 9196) under IRC section 3402 modifying employer requirements to furnish copies of Forms W-4, Employee’s what is withholding compliance program Allowance Certificate, to the IRS. The temporary regulations provide that employers are no longer required to…
Spirituality In Business Leadership
Spirituality In Business Leadership By Alan Olsen For many people, even mentioning religion, or a religious topic in the workplace can be taboo. Often, people are very sensitive about religious topics so most people choose to be quiet about the subject, no matter what the business situation might be. Even some of the most devout…
IRS Publication 4681: Canceled Debts, Foreclosures, Repossessions, and Abandonments (For Individuals) For use in preparing 2008 Returns
IRS Publication 4681: Canceled Debts, Foreclosures, Repossessions, and Abandonments (For Individuals) For use in preparing 2008 Returns For use in preparing 2008 Returns Link: http://www.irs.gov/pub/irs-pdf/p4681.pdf This publication explains the federal tax treatment of canceled debts, foreclosures, repossessions, and abandonments. Generally, if you owe a debt to someone else and they cancel or forgive that debt,…
Update on Homebuyer’s Credits
Update on Homebuyer’s Credits Dear Client & Friends: On November 6, the President signed into law H.R. 3548, the ”Worker, Homeownership, and Business Assistance Act of 2009.” The new law extends and generally liberalizes the tax credit for first-time homebuyers, making it a much more flexible tax-saving tool. It also includes some crackdowns designed to prevent…