Coronavirus Tax Filing & Payment | Cg Tax, Audit & Advisory

13 Aug

Coronavirus Tax Filing & Payment, Individual Tax

More Parents May Owe “Nanny Tax” This Year, Due to COVID-19

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August 11, 2020

In the COVID-19 era, many parents are hiring nannies and babysitters because their daycare centers and summer camps have closed. This may result in federal “nanny tax” obligations. Keep in mind that the nanny...

12 Aug

Coronavirus Tax Filing & Payment, Federal Tax

Late Tax Filers May Still Receive an EIP

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August 12, 2020

Are you a late tax filer? You may still get an Economic Impact Payment (EIP) under the CARES Act. The IRS says that if individuals filing 2019 tax returns in 2020 are determined to...

11 Aug

Coronavirus Tax Filing & Payment, Helpful COVID-19 Links

What Does the Executive Action Deferring Payroll Taxes Mean for Employers and Employees?

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August 11, 2020

On August 8, 2020, President Trump signed an executive memorandum that defers an employee’s portion of Social Security and Medicare taxes from September 1 through December 31, 2020. At this point, the taxes are...

21 Jul

Coronavirus Tax Filing & Payment, Federal Tax

Your Status of Form 7200

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July 20, 2020

Did your company file for COVID-19-related employer tax credits and experience delays in the processing of Form 7200, “Advance Payment of Employer Credits Due to COVID-19?” If so, you’ll soon be hearing from the...

06 Jul

Coronavirus Tax Filing & Payment, Federal Tax

IRS FAQs on Tax Balances Due & Payment Options

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July 2, 2020

With the July 15 federal tax filing and payment deadline fast approaching, as part of its People First Initiative, the IRS has posted answers to FAQs on tax balances due and payment options. One...

02 Jul

Coronavirus Tax Filing & Payment, Federal Tax

July 15 Income Tax Filing & Payment Deadline

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July 2, 2020

The IRS has announced that the July 15 income tax filing and payment deadline WON’T be postponed. Taxpayers who need more time to file their federal income tax return can get an extension until...

01 Jul

Coronavirus Tax Filing & Payment, Federal Tax

July 15 Tax Deadline Approaching

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June 30, 2020

Taxpayers were given extra time to file and pay current tax liabilities, in response to the COVID-19 pandemic. Absent another extension, the deadline of July 15, is almost here. Those who owe a 2019...

26 Jun

Coronavirus Tax Filing & Payment, Federal Tax

Keep EIP Notice For Tax Records

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June 25, 2020

Did you receive an Economic Impact Payment (EIP)? Tens of millions of Americans were sent EIPs to help defray the financial impact brought by COVID-19. If you received an EIP in a check, direct...

15 Jun

Coronavirus Tax Filing & Payment, Employer

COVID-19-Related Deadline Relief Affects HSAs and Retirement Plans

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June 15, 2020

The IRS recently issued another notice extending tax deadlines because of the COVID-19 pandemic. Notice 2020-35 supplements IRS Notice 2020-23 and earlier guidance by extending the deadlines for certain additional time-sensitive actions relating to...

02 Jun

Coronavirus Tax Filing & Payment, Federal Tax, SBA

Additional Postponed Deadlines

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June 2, 2020

The IRS has postponed deadlines for time-sensitive actions with respect to certain employment taxes, employee benefit plans, exempt organizations, IRAs, Health Savings Accounts (HSAs) and Coverdell education savings accounts due to the ongoing COVID-19...

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