Impact Payments For Deceased People & PPP’s 8 Week Spending Problem
Forbes: The IRS Wants Its Money Back – Stimulus Checks Made To Dead Taxpayers Must Be Returned
https://www.forbes.com/sites/ryanguina/2020/05/06/stimulus-checks-made-to-dead-taxpayers-must-be-returned/#49ae3c3b2d97
How to spend PPP loan proceeds:
Tips for Spending PPP Loan Proceeds and Maximizing Loan Forgiveness
U.S. House Postpones new $1T coronavirus relief vote until Friday:
https://www.upi.com/Top_News/US/2020/05/11/US-House-postpones-new-1T-coronavirus-relief-vote-until-Friday/6701589221677/
Deductibility of PPP Loan related expenses:
https://newsletters.usdbriefs.com/2020/Tax/TNV/200508_1.html?elqTrackId=3b6ae4d217c74cf192a8001f946740d5&elq=c4044dbfe68d4bf0abd78e7aed4de94e&elqaid=70570&elqat=1&elqCampaignId=13484
https://www.finance.senate.gov/imo/media/doc/2020-05-05%20CEG,%20RW,%20RN%20to%20Treasury%20(PPP%20Business%20Deductions).pdf
State of California Budget – This all has to updated for the COVID-19 Catastrophe:
http://www.ebudget.ca.gov/2020-21/pdf/BudgetSummary/FullBudgetSummary.pdf
HERO Act Expands IRA Options for Military
HERO Act Expands IRA Options for Military Members of the military serving in Iraq, Afghanistan and other combat zone localities can now put money into an individual retirement account, even if they received tax-free combat pay, according to the Internal Revenue Service. Under the Heroes Earned Retirement Opportunities (HERO) Act, signed into law on Memorial…
Dealing with IRS Collections
Dealing with IRS Collections There are times when taxpayers are unable to pay amounts owed the IRS on a tax return or as a result of an audit. Presuming there is no disagreement about the tax liability, just a lack of funds to pay, the taxpayer is best served by avoiding the collection process. There…
Tax Time Tips for Mortgage Holders
Tax Time Tips for Mortgage Holders Tax Time Tips for Mortgage Holders, it’s that time of year again when numbers such as 1040, W-2 and INT-1099 become all too familiar to millions of people. One of the benefits of holding a mortgage on your house is the ability to claim certain deductions that can assist…
CA Credit for New Home Purchase – Fund Running Out
CA Credit for New Home Purchase – Fund Running Out By Ron Cohen, CPA, MST Partner Greenstein, Rogoff, Olsen & Co., LLP California allows a nonrefundable credit against net tax equal to the lesser of 5% (.05) of the purchase price of the qualified principal residence or ten thousand dollars ($10,000). But only a limited amount…