Helpful COVID-19 Links | Cg Tax, Audit & Advisory

15 Jul

IRS Guidance on “Coronavirus-Related” Retirement Plan Distributions

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July 14, 2020

In Notice 2020-50, the IRS recently provided guidance on “coronavirus-related distributions” from retirement plans under Section 2202 of the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Here are some pertinent details for employers. Pension...

14 Jul

Federal Tax, Helpful COVID-19 Links

IRS Temporarily Extends Deadline for Certain E-mail & Digital Procedures

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July 14, 2020

The IRS temporarily extends the deadline for certain email and digital procedures. Due to COVID-19, the IRS announced in March that it would deviate from certain established procedures through July 15, 2020. That is,...

10 Jul

Business, Helpful COVID-19 Links

6 Key IT Questions to Ask in the New Normal

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July 10, 2020

The sudden shutdown of the economy in March because of the COVID-19 pandemic forced many businesses to rely more heavily on technology. Some companies fared better than others. Many businesses that had been taking...

08 Jul

Business, Helpful COVID-19 Links

Assessing Productivity as You Cope With the Pandemic

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July 7, 2020

The COVID-19 crisis is affecting not only the way many businesses operate, but also how they assess productivity. How can you tell whether you’re getting enough done when so much has changed? There’s no...

06 Jul

Employer, Helpful COVID-19 Links

COVID-19-Leave Donation Programs Now Eligible For Tax Relief

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July 6, 2020

The IRS recently announced special tax relief for leave-based donation programs set up by employers to aid those directly affected by the COVID-19 pandemic. Under such programs, an employer can allow its employees to...

03 Jul

Helpful COVID-19 Links

IRS Guidance Provides RMD Rollover Relief

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July 2, 2020

The CARES Act was enacted in an attempt to mitigate the economic effects of the COVID-19 pandemic. Among other things, it extends favorable tax treatment to qualified individuals who take so-called “coronavirus-related distributions” (CRDs)...

02 Jul

Helpful COVID-19 Links, Individual Tax

Some People Are Required to Return Economic Impact Payments That Were Sent Erroneously

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July 1, 2020

The IRS and the U.S. Treasury had disbursed 160.4 million Economic Impact Payments (EIPs) as of May 31, 2020, according to a new report. These are the payments being sent to eligible individuals in...

30 Jun

Business, Helpful COVID-19 Links

SBA Reopens EIDL Program to Small Businesses and Nonprofits

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June 30, 2020

Just last week, the Small Business Administration (SBA) announced that it has reopened the Economic Injury Disaster Loan (EIDL) and EIDL Advance program to eligible applicants still struggling with the economic impact of the...

25 Jun

Helpful COVID-19 Links, Individual Tax

What Qualifies as a “Coronavirus-Related Distribution” From a Retirement Plan?

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June 24, 2020

As you may have heard, the Coronavirus Aid, Relief and Economic Security (CARES) Act allows “qualified” people to take certain “coronavirus-related distributions” from their retirement plans without paying tax. So how do you qualify?...

22 Jun

Coronavirus Healthcare, Helpful COVID-19 Links

How HIPAA Applies to COVID-19-Related Temp Checks and Info Gathering

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June 22, 2020

To cope with the COVID-19 crisis, many employers are taking employees’ temperatures and asking them general health-related questions as they report to work. A cogent question that often arises in light of this activity...

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