COVID-19 has left few things unscathed this year, the IRS included. In March, the IRS temporarily closed offices due to the public health emergency and announced the postponement of the filing deadline from April 15 to July 15. In addition, lawmakers then tasked the agency with distributing millions of stimulus checks at the beginning of April. With […]
UPDATED: The deadline for dentists to apply is now August 3. Dentists are now eligible to apply for financial assistance through the CARES Act Provider Relief Fund. On July 10, 2020, the Department of Health and Human Services (HHS) announced a change to the Medicaid and Children’s Health Insurance Program (CHIP) Provider Relief Fund. Before […]
A lot has happened so far in 2020, and changes to RMDs are no different. RMD Basics A required minimum distribution (RMD) is the amount of money that must be withdrawn from a traditional IRA, SEP, or SIMPLE individual retirement account (IRA) by owners and qualified retirement plan participants of retirement age. For 2020, RMDs […]
Are you receiving unemployment benefits right now? Plan now or a surprise tax bill may be headed your way. The coronavirus pandemic has caused millions of Americans to file for unemployment benefits over the past five months. Under the CARES Act that was passed back in March, individuals receiving state unemployment benefits had access to […]
The SBA released two new applications for PPP forgiveness, as the follow-up to the PPP Flexibility Act that recently passed in Congress. The SBA developed a simplified application, the EZ application, which is three pages, and the regular application is now five pages. To use the EZ application, you must meet one of the below […]
