COVID-19 Tax News & Firm Updates | Cg Tax, Audit & Advisory

13 Jul

Families First Coronavirus Response Act, Federal Tax

W-2 Form Instructions

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July 13, 2020

The IRS has issued W-2 Form-related instructions to employers on how to report the amount of qualified sick leave wages and qualified family leave wages paid to employees under the Families First Coronavirus Response...

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...

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...

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

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...

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...

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...

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...

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