COVID-19 Tax News & Firm Updates

26 Oct

Inventory Management is Especially Important This Year

Posted by cgadmin
October 22, 2020

As year-end draws near, many businesses will be not only be generating their fourth quarter financial statements, but also looking back on the entire year’s financials. And what a year it’s been. The COVID-19...

22 Oct

Helpful COVID-19 Links, Tax

Unusual Year Steers Year-End Tax Strategies

Posted by cgadmin
October 22, 2020

Like so many things this year, the recommended practices for your annual end-of-the-year tax planning reflect the COVID-19 pandemic and its far-flung effects. The economic impact, as well as federal relief packages like the...

19 Oct

Business, Helpful COVID-19 Links

Reviewing Your Disaster Plan in a Tumultuous Year

Posted by cgadmin
October 19, 2020

It’s been a year like no other. The sudden impact of the COVID-19 pandemic in March forced every business owner — ready or not — to execute his or her disaster response plan. So,...

16 Oct

Helpful COVID-19 Links, SBA

NJEDA Phase 3 COVID-19 Relief Grant Pre-Registration Opens October 19

Posted by cgadmin
March 22, 2021

Business owners interested in applying to the New Jersey Economic Development Authority's (NJEDA) Phase 3 COVID-19 Grant Relief Program will need to pre-register to receive an application. Pre-registration begins on Monday, October 19 and...

14 Oct

Helpful COVID-19 Links, SBA

NJEDA Announces Phase 3 of COVID-19 Relief Grants

Posted by cgadmin
March 22, 2021

The New Jersey Economic Development Authority (NJEDA) will roll out applications for $70 million of COVID-19 relief grants later this month for businesses affected by the coronavirus pandemic. Phase 3 expands eligibility and increases...

12 Oct

Coronavirus Tax Filing & Payment, Employer, Helpful COVID-19 Links

Can Employers Provide Disaster Relief for COVID-19?

Posted by cgadmin
October 12, 2020

Many employees have suffered financial hardships because of the COVID-19 pandemic. In response, some employers may consider offering financial assistance as a fringe benefit. A common question that arises regarding such an idea is:...

10 Oct

Coronavirus Tax Filing & Payment, Federal Tax

Extended EIP Registration Deadline

Posted by cgadmin
October 7, 2020

Do you know someone who isn’t required to file a tax return and hasn’t yet received an Economic Impact Payment (EIP)? The IRS has announced that the deadline to register for an EIP is...

08 Oct

Federal Tax, Helpful COVID-19 Links

Important Business Closure Steps

Posted by cgadmin
October 7, 2020

One unfortunate fallout of the COVID-19 pandemic is that some businesses are closing permanently. If you’re considering a closure, be prepared to address several issues, along with your tax advisor. The IRS has redesigned...

07 Oct

Coronavirus Healthcare, Federal Tax

Transition Relief for 2020 Health Coverage Reporting

Posted by cgadmin
October 7, 2020

The IRS has issued transition relief for 2020 related to health coverage reporting required by the Affordable Care Act. In Notice 2020-76, the IRS extended due dates for certain 2020 information reporting requirements for...

07 Oct

Coronavirus Healthcare, Employer

Extended Benefit Claims and Appeals Periods During COVID-19

Posted by cgadmin
October 6, 2020

In response to the COVID-19 pandemic, federal agencies have extended certain claims and appeals periods for employee pension benefits plans subject to the Employee Retirement Income Security Act (ERISA). The relief also applies to...

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