Federal Tax | Cg Tax, Audit & Advisory

15 May

Increased Flexibility in Cafeteria Plans

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May 15, 2020

To address unanticipated health care expenses due to the COVID-19 pandemic, the IRS has issued guidance to increase flexibility in employees’ cafeteria plans. The IRS has added to the situations in which a cafeteria...

13 May

Federal Tax

EIP Amounts

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May 12, 2020

Did you receive an Economic Impact Payment (EIP) for less than you expected? EIPs are part of the tax relief intended to help mitigate the effects of the novel Coronavirus (COVID-19) crisis. Generally, the...

12 May

Federal Tax

EIP Direct Deposit Deadline

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May 12, 2020

May 13 is the deadline to provide the IRS with information to get an Economic Impact Payment (EIP) via direct deposit. The IRS has stated that taxpayers who qualify for, but haven’t received their...

05 May

Federal Tax, Helpful COVID-19 Links

Employee Retention Tax Credit FAQs

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May 5, 2020

Employers have many questions about the new Employee Retention tax credit. To answer them, the IRS has issued a series of FAQs about the credit, which is part of the Coronavirus Aid, Relief, and...

05 May

Federal Tax, Helpful COVID-19 Links

Qualifying Child in EIPs

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May 5, 2020

How does the IRS define “qualifying child” in relation to Economic Impact Payments (EIPs)? Under the Coronavirus Aid, Relief and Economic Act, eligible taxpayers can receive an additional $500 per qualifying child. According to...

04 May

Federal Tax, Helpful COVID-19 Links

Where’s My EIP?

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May 4, 2020

If you’re eligible for an Economic Impact Payment (EIP) but you haven’t yet received it, you may be wondering why. It could be because you haven’t filed your 2019 income tax return. Under the...

29 Apr

Federal Tax

Veterans Administration and Supplemental Security Income Deadline Approaching

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April 29, 2020

May 5 is the deadline for certain Veterans Administration and Supplemental Security Income benefit recipients to claim Economic Impact Payments (EIPs) for children this year. The deadline applies to parents who haven’t filed a...

28 Apr

Coronavirus Tax Filing & Payment, Federal Tax

Coronavirus Filing Deadline FAQs

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April 28, 2020

The IRS has updated a series of FAQs related to the federal income tax return filing and payment deadlines in response to the Coronavirus (COVID-19) pandemic. These FAQs update information about expanded taxpayer relief...

22 Apr

Coronavirus Stimulus Bill, Federal Tax, SBA

Senate Passes COVID-19 Relief Package

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April 22, 2020

The U.S. Senate has passed a $484 billion bill that will expand small business aid and provide needed funds for hospitals and novel Coronavirus (COVID-19) testing. Specifically, the deal allocates $310 billion to replenish...

20 Apr

Federal Tax, Helpful COVID-19 Links

Economic Impact Payments For People Receiving Supplemental Security Income

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April 20, 2020

Do you know someone who receives Supplemental Security Income (SSI)? If so, that person should automatically receive a $1,200 Economic Impact Payment (EIP) “no later than early May,” according to the IRS. No further...

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