Tax Deadline: Make a Decision, Already!!!
Make a Decision, Already!!!
Ways and Means Chair Joins In Calling for the IRS to Push Back the April 15 due Date:
https://www.currentfederaltaxdevelopments.com/blog/2021/3/9/ways-and-means-chair-joins-in-calling-for-the-irs-to-push-back-the-april-15-due-date
https://waysandmeans.house.gov/media-center/press-releases/unprecedented-conditions-neal-pascrell-urgently-demand-irs-extend-2021
Passed House on first draft on 2/27/2021 by 219 to 212… by about 7 votes out of 431 voting (about 1.6%).
Senate passed their revised version by 50 to 49 (One (R) Senator was absent for a funeral) on March 6th. That is about as close as close can be.
Now the House will vote soon on the version revised by the Senate…if there are no big hick-ups it will go to the President to sign (who has said he will).
“The House will take a procedural vote later Tuesday before moving to final passage of the plan, expected Wednesday, House Majority Leader Steny Hoyer’s office said. Mr. Biden would then have the measure on his desk before key unemployment programs expire March 14.” https://www.cbsnews.com/news/covid-relief-package-american-rescue-plan-house-vote/
“The COVID-19 relief package provides $1,400 direct payments to individuals making up to $75,000 annually, $350 billion in aid to state and local governments — a sticking point in past negotiations between Republicans and Democrats — and $14 billion for vaccine distribution. The measure also includes an additional $300 in weekly jobless benefits through September and a child allowance of up to $3,600 per family.”
Deloitte: Tax News & Views Capital Hill Briefing: $1.9 trillion COVID relief package clears Senate
https://dhub.blob.core.windows.net/dhub/Newsletters/Tax/2021/TNV/210306_1.html?elqTrackId=eb7a78c6448a437198219578c2325ff3&elq=b22afc96a01349768c313e9144e26731&elqaid=82042&elqat=1&elqCampaignId=15338
Greenstein Rogoff Olsen & Co
rcohen@groco.com
510-797-8661
How to Bring in a New Partner
How to Bring in a New Partner By Matt Dickstein, Business Attorney In this article, I will give you a quick overview of how do you buy into a company to bring in a new shareholder or partner to help with your business. If you are on the other side of the table as…
The Pros & Cons of S-Corporation Status
The Pros & Cons of S-Corporation Status If the number of shareholders in your corporation is small, you may think that becoming an S-Corporation is the right move, but you should weigh the advantages and disadvantages first. Advantages of S-Corporation Status One of the main advantages of S-Corporation status is that it avoids the double…
What is Sole Proprietorship?
What is Sole Proprietorship? A sole-proprietorship is a business that is owned by one person or by a husband and wife. Unless the business is formed as a corporation or a limited liability company, it will be a sole-proprietorship by default. One of the biggest advantages of operating a business as a sole-proprietorship is that…
Conducting Your Business as a Corporation
Conducting Your Business as a Corporation The limited personal liability of a corporation isn’t ironclad. In the event the business ends up owing more money to a creditor than it has the ability to pay, the creditor will then look to the business owner. Under a legal theory known as “piercing the corporate veil,” if…