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IRS Extends Filing & Payment Deadline to June 15thThe IRS has issued tax relief for those affected by the recent winter storms. The filing and payment deadline for 2020 returns due March 15th and April 15th has been moved to Tuesday, June 15th. The 2021 first...
The Department of the Treasury announced today that the IRS will extend additional key tax deadlines for individuals and businesses. Last month, the filing and payment deadlines for taxpayers was extended from April 15, 2020 to July 15, 2020. Today’s notice...
Small businesses affected by the global pandemic may apply for SBA loans under the Paycheck Protection Program (PPP) beginning on April 3, 2020 (this Friday). However, independent contractors and self-employed taxpayers must wait until April 10, 2020 to file an...
Today, President Trump signed into law a $2 trillion stimulus package. Some of the highlights of the law include the following: Increased unemployment benefitsSmall business loansPayments to individual taxpayers up to $1,200 plus payments of up to $500 per...
In response to the numerous questions raised from the April 15, 2020 filing and payment deadlines being extended until July 15, 2020, the IRS has issued a Q&A on their website. Some of the highlights include the following: The extension is automatic – there...
Treasury Secretary Steven Mnuchin announced today that the Treasury Department will extend the April 15, 2020 tax filing deadline to July 15, 2020. Mnuchin said, “All taxpayers and businesses will have this additional time to file and make payments without...
The recently enacted Tax Cuts and Jobs Act (TCJA) is a sweeping tax package. Here’s a look at some of the more important elements of the new law that have an impact on individuals. Unless otherwise noted, the changes are effective for tax years beginning in 2018...
It’s tax season again and many of you are wondering about extending your returns. Extensions are good for many reasons, such as giving you additional time to gather the information necessary to prepare a complete and accurate return. One key thing to note...
Wheeler Fairman & Kelley made the top 30 list of accounting firms in the Austin Business Journal. See the entire list here.
