The Families First Coronavirus Response Act (FFCRA), which was recently signed into law, requires certain employers to provide their employees with paid sick leave or expanded family and medical leave for specified reasons related to COVID-19. The Department of Labor’s Wage and Hour Division administers and enforces the new law’s
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Economic Impact Payments FAQ
The Treasury Department and the Internal Revenue Service announced on March 30 that distribution of economic impact payments will begin in the following three weeks and will be distributed automatically, with no action required for most people. However, some seniors and others who typically do not file returns will need
IRS Adjusts Compliance Efforts Due to COVID-19
To help people facing the challenges of COVID-19 issues, the Internal Revenue Service recently announced a new program to assist taxpayers by providing relief on a variety of issues ranging from easing payment guidelines to postponing compliance actions. This new program, called the “IRS People First Initiative”, is meant to
New Law Requires Businesses to Provide Paid Leave
The Families First Coronavirus Response Act is a new program that offers COVID-19 assistance for both employees and employers. This new law provides businesses with fewer than 500 employees the funds to provide employees with paid leave, either for the employee’s own health needs or to care for family members.
Tax Deadlines Moved to July 15
The April 15 federal income tax filing due date has been moved to July 15, the U.S. Treasury Department and IRS recently announced. Here is what you need to know: The due dates for all tax payments normally due April 15 have been pushed back 90 days to July 15,
Elect for Tax Savings
When completing their income tax return, taxpayers can make certain choices or elections that can really impact the amount of tax that’s due. Here are a few common examples that can create tax savings opportunities if you elect the correct option. Tax filing status. Typically, filing a joint tax return
Ease the Pain of Repaying Student Loans
Recent college graduates are graduating with record-setting levels of debt from student loans, reaching a total of $1.5 trillion in 2019. Fortunately, there are ways to get some relief from this debt and take advantage of a few tax breaks at the same time. Here are four ways you can
New Options for Repaying Student Loans
A 529 savings plan is a special type of account that allows after-tax funds to be used to pay for college and K-12 education expenses. As long as the funds are used to pay for qualified expenses, any earnings or interest in the savings plan are tax-free. Any unused earnings
New Retirement Account Rules Take Effect
The Setting Every Community Up for Retirement Enhancement Act, or SECURE Act, was passed by Congress in late December 2019. This new law modifies the features of the retirement accounts that you may already have, and generally makes it easier for people to use these accounts to save for retirement.
Schedule Your Tax Appointment Today
The 2019 tax filing season is now in full swing. January 31 was the deadline for tax forms like your Form W-2, Form 1099-DIV, and other statements to be issued to you, so now is the time to collect your tax forms, organize your records and make an appointment to