COVID-19 Tax News & Firm Updates

20 Jan

How the New COVID-19 Relief Law Affects Retirement Benefits

Posted by cgadmin
January 18, 2021

The Consolidated Appropriations Act (CAA) includes a wide variety of provisions that address the ongoing economic hardships caused by the COVID-19 pandemic. There are so many provisions, in fact, that you may find it...

10 Jan

Federal Tax, Helpful COVID-19 Links

Info on Second Round of EIPs

Posted by cgadmin
January 8, 2021

As the second round of economic impact payments (EIPs) rolls out, eligible taxpayers may be able to help speed up the process. The IRS has updated its “Get My Payment” tool, which answers questions...

08 Jan

Coronavirus Stimulus Bill, SBA

How Can Your Business Benefit From the Consolidated Appropriations Act?

Posted by cgadmin
July 12, 2022

Cg's Don Cowan and Michael DeMola will discuss key elements of the new COVID-19 Aid Package including tax relief, PPP provisions, unemployment benefits, and more during a free webinar on Wednesday, January 20 at...

06 Jan

Coronavirus Stimulus Bill, SBA

The Consolidated Appropriations Act Brings COVID-19 Relief (and More) to Individuals

Posted by cgadmin
January 6, 2021

President Trump signed into law billions of dollars in long-awaited COVID-19 and economic relief. The relief package is part of the nearly 5,600-page Consolidated Appropriations Act (CAA), which also contains numerous other tax, payroll...

29 Dec

Coronavirus Stimulus Bill, SBA

President Signs COVID-19 Relief Bill

Posted by cgadmin
December 29, 2020

We sent information last week regarding the COVID-19 Assistance Package designed to provide relief from the coronavirus pandemic. On December 27, President Trump signed this bill into law. Here are a few of the...

28 Dec

Coronavirus Stimulus Bill, Federal Tax, SBA

COVID-19 Relief Bill Provisions

Posted by cgadmin
December 28, 2020

On Dec. 27, President Trump signed a law that provides COVID-19 relief and makes consolidated government appropriations for the fiscal year. There are several tax provisions in the law. For example, eligible taxpayers can...

22 Dec

Coronavirus Stimulus Bill

COVID-19 Aid Package

Posted by cgadmin
December 22, 2020

Major Components of COVID-19 Relief Bill Provisions for federal tax deductibility of business expenses paid with forgiven PPP loans (reversing previous IRS guidance regarding nondeductibility). States may have different tax treatment regarding these expenses. ...

21 Dec

Coronavirus Stimulus Bill, Federal Tax

Update on New COVID-19 Assistance Package

Posted by cgadmin
December 21, 2020

Congressional negotiators have reached an agreement on a COVID-19 assistance package. The $900 billion deal will provide a second round of direct payments and boost unemployment benefits. The direct payments will be up to...

15 Dec

Coronavirus Tax Filing & Payment, Federal Tax

Recovery Rebate Credit

Posted by cgadmin
December 14, 2020

Here’s good news for some people when they file their 2020 tax returns in 2021. A Recovery Rebate Credit is available to taxpayers who didn’t receive an Economic Impact Payment (EIP) in 2020. It’s...

04 Dec

Coronavirus & Nonprofits, Nonprofit

Nonprofit Boards Must Remain Vigilant as Long as the Crisis Continues

Posted by cgadmin
December 2, 2020

It’s been a tough year for nonprofits. Many have experienced an increased demand for services just as revenues have plummeted. Until the COVID-19 pandemic is over, your organization’s board of directors will likely play...

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