2020 Filing Season – IRS will accept returns starting Feb 12
The IRS announced today that the 2020 filing season will start about 3 weeks later than usual. The IRS will start accepting returns on Friday February 12th. This is because of all the tax law changes that were in the... Read More →
2nd Stimulus Check may arrive by Debit Card
The Treasury Department and the IRS are issuing millions of second stimulus payments (aka Economic Impact Payments) by prepaid debit card to speed delivery of the payments to as many people as possible. If the Get My Payment tool on IRS.gov... Read More →
1099-NEC filing requirement with California
If you own a business you are aware of the requirement to issue 1099s to all service providers who are not corporations who you pay $600 or more by cash, check, or other bank transfer mechanism (e.g. Venmo). For 2020,... Read More →
PPP Round 2 will open the week of January 11th
The SBA has announced that the next round of the Paycheck Protection Program (PPP) will open January 11th. The options available are: “Second Draw” Loans for businesses who have experienced a 25% decline in gross receipts, “Top-up” for original PPP loans where... Read More →