Monday 08/31/2020

Payroll Tax Deferral Considerations

On August 8, 2020, President Trump signed an executive memorandum calling for a payroll tax holiday for Americans making less than $104,000. This results in a deferral of the employee portion of the social security taxes owed between September 1, 2020, and December 31, 2020. On Friday, August 28, the IRS released further guidance. When weighing […]

Read More

IRS Issues: Unprocessed Paper Payments and Tax Refund Interest

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 […]

Read More

Thursday 07/16/2020

Provider Relief Fund Now Open to Dentists

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 […]

Read More

Thursday 07/09/2020

What You Need To Know About RMDs In 2020

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 RMD Basics A required minimum distribution (RMD) is the amount of money that must be withdrawn from a traditional IRA, SEP, or SIMPLE individual retirement account (IRA) by owners and qualified retirement plan participants of retirement age.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 […]

Read More