Federal Tax | Cg Tax, Audit & Advisory

05 May

Employee Retention Tax Credit FAQs

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May 5, 2020

Employers have many questions about the new Employee Retention tax credit. To answer them, the IRS has issued a series of FAQs about the credit, which is part of the Coronavirus Aid, Relief, and...

05 May

Federal Tax, Helpful COVID-19 Links

Qualifying Child in EIPs

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May 5, 2020

How does the IRS define “qualifying child” in relation to Economic Impact Payments (EIPs)? Under the Coronavirus Aid, Relief and Economic Act, eligible taxpayers can receive an additional $500 per qualifying child. According to...

04 May

Federal Tax, Helpful COVID-19 Links

Where’s My EIP?

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May 4, 2020

If you’re eligible for an Economic Impact Payment (EIP) but you haven’t yet received it, you may be wondering why. It could be because you haven’t filed your 2019 income tax return. Under the...

29 Apr

Federal Tax

Veterans Administration and Supplemental Security Income Deadline Approaching

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April 29, 2020

May 5 is the deadline for certain Veterans Administration and Supplemental Security Income benefit recipients to claim Economic Impact Payments (EIPs) for children this year. The deadline applies to parents who haven’t filed a...

28 Apr

Coronavirus Tax Filing & Payment, Federal Tax

Coronavirus Filing Deadline FAQs

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April 28, 2020

The IRS has updated a series of FAQs related to the federal income tax return filing and payment deadlines in response to the Coronavirus (COVID-19) pandemic. These FAQs update information about expanded taxpayer relief...

22 Apr

Coronavirus Stimulus Bill, Federal Tax, SBA

Senate Passes COVID-19 Relief Package

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April 22, 2020

The U.S. Senate has passed a $484 billion bill that will expand small business aid and provide needed funds for hospitals and novel Coronavirus (COVID-19) testing. Specifically, the deal allocates $310 billion to replenish...

20 Apr

Federal Tax, Helpful COVID-19 Links

Economic Impact Payments For People Receiving Supplemental Security Income

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April 20, 2020

Do you know someone who receives Supplemental Security Income (SSI)? If so, that person should automatically receive a $1,200 Economic Impact Payment (EIP) “no later than early May,” according to the IRS. No further...

17 Apr

Federal Tax, Helpful COVID-19 Links

IRS Get My Payment Tool Available

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April 17, 2020

The IRS says its new Get My Payment tool is now up and running. It allows taxpayers to check on the status of their Economic Impact Payments (EIPs), which are being sent to help...

14 Apr

Federal Tax, Helpful COVID-19 Links

Economic Impact Payments Beginning to Be Deposited

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April 14, 2020

The IRS announced that it has deposited the first Economic Impact Payments into taxpayers’ bank accounts. “We know many people are anxious to get their payments; we’ll continue issuing them as fast as we...

11 Apr

Coronavirus Tax Filing & Payment, Federal Tax, Tax

Report Employee Retention Tax Credit

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April 10, 2020

Employers should report the employee retention tax credit on their returns for the 2nd quarter of 2020. The Coronavirus Aid, Relief, and Economic Security (CARES) Act supports certain employers that operate a business during...

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