Federal Tax | Cg Tax, Audit & Advisory

21 Feb

Qualified Disaster Relief Contributions

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February 18, 2021

A new tax incentive may give disaster relief funds a huge boost to certain donations from corporations. In 2020, the Consolidated Appropriations Act (CAA) established a new category of “qualified disaster relief contributions.” Under...

20 Feb

Federal Tax

Credit for Other Dependents

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February 17, 2021

Do you have a child age 17 or older or other dependent? You can’t claim the Child Tax Credit for these individuals but you may qualify for the Credit for Other Dependents. The maximum...

13 Feb

Federal Tax

Preparing Your Tax Records

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February 11, 2021

The IRS began accepting tax returns on Feb. 12. Ideally, you’ve been gathering tax records all year and have already made an appointment with us. Bring all W-2s, 1099s and documents about state tax...

12 Feb

Families First Coronavirus Response Act, Federal Tax

Sick & Family Leave Tax Credit

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February 10, 2021

Are you self-employed and a survivor of COVID-19? If so, you may be able to claim a sick and family leave tax credit under the Families First Coronavirus Response Act. The law allows certain...

09 Feb

Federal Tax, Helpful COVID-19 Links

COVID-19 Scam

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February 9, 2021

The U.S. Department of Justice (DOJ) and the IRS’s Criminal Investigation division are warning taxpayers about a new wave of COVID-19-related scams. Officials with the DOJ and IRS spotlighted a number of scams, including:...

08 Feb

Federal Tax

IRS Tax Season Points

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February 8, 2021

As tax season kicks off on Feb. 12, 2021, the IRS wants to remind taxpayers of some points they might miss. For example, taxpayers who received interest income (of at least $10) from the...

07 Feb

Federal Tax, Helpful COVID-19 Links

IRS Updates Get My Payment Tool

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February 5, 2021

The IRS has updated its “Get My Payment” tool to include information on how the second Economic Impact Payments (EIPs) will be delivered to eligible individuals to provide COVID-19 relief. Here’s a question that...

01 Feb

Federal Tax, SBA

ERC Extended for Employers Keeping Workers on Payroll

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January 28, 2021

The Employee Retention Credit (ERC) is extended for employers who keep workers on payroll. The recently enacted Consolidated Appropriations Act made several changes to the tax credit, which was created under the CARES Act....

27 Jan

Federal Tax

Plug-In Vehicles Available for Tax Break

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January 27, 2021

New plug-in vehicles are now available for a tax break. The IRS has added models to its list of vehicles that are eligible for the plug-in electric motor vehicle tax credit. The tax code...

26 Jan

Federal Tax

Direct Deposit Income Tax Returns

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January 26, 2021

Did you know that eight out of 10 taxpayers receive their income tax refunds using direct deposit? The reason, according to the IRS, is that filing electronically and choosing direct deposit is the fastest...

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