IRS Issues Guidance on Payroll Tax Deferral
Join Dent Moses Managing Director, Mike Baker as he discusses this new guidance. Late last Friday, August 28, 2020, the IRS issued guidance on President Trump’s payroll tax deferral memorandum.
IRS Posts Information on Check Processing, 2019 Return Backlog, and Incorrect Notices
The IRS is working through a backlog of paper-filed 2019 tax returns, checks, and correspondence resulting from a COVID-19 related shutdown in mid-March. It has been reported that the IRS had as much as 12 million pieces of unopened mail waiting to be processed.
Additional Guidance Required on Trump’s Payroll Tax Deferral
On August 8, 2020, an executive order was signed that called for deferring the collection of employee’s payroll taxes – specifically the FICA portion (6.2%). Accountants, employers, payroll service providers all await additional guidance to prepare for the September 1st implementation date. Details are sparse but here are general points: Treasury Secretary Mnuchin says deferral…
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COVID-19 and Occupational Tax
Join Mike Baker as he discusses occupational tax issues related to COVID-19 and remote work. One addition to video content – The city of Bessemer also has an occupational tax.
Paycheck Protection Program Update 7.29.20 – Video
Watch our Paycheck Protection Program Update 7.29.20 with Mike Baker and James Moody. This update includes: PPP Update and Statistics Legislative Update Current Forgiveness Overview Recommendations View it now: Paycheck Protection Program Update 7.29.20 At Dent Moses, we are committed to keeping you up to date on new information surrounding COVID-19. Please contact us with any questions or visit the COVID-19…
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IRS Operations Limited Due to COVID-19
Due to the pandemic, the IRS has been forced to limit staff to only mission-critical functions. While tax returns and refunds continue to be processed, matters that are customarily handled over the phone have become more challenging.
CARES Act Provider Relief Fund Open to Dentists
The U.S. Department of Health & Human Services recently opened up the CARES Act Provider Relief Fund to dentists
Don’t Forget – July 15th Deadline
All income tax filings and payments ordinarily scheduled between mid-April and mid-June have been delayed until July 15th. This means that any remaining taxes owed for 2019 as well as 2020 taxes on income earned through the end of May are due on that day.
REVIVE ALABAMA: COVID-19 Cash Grants for Alabama Small Businesses
The State of Alabama, through the Alabama Department of Revenue (ALDOR), has a new grant program, Revive Alabama Small Business Grant Program, for small businesses affected by COVID-19.
Paycheck Protection Program Flexibility Act – June 5, 2020 Update
On Wednesday, June 3, the Senate passed the House version of the Paycheck Protection Program Flexibility Act of 2020. As its name suggests, the legislation is intended to give borrowers more flexibility by extending the amount of time to spend PPP funds and by relaxing other requirements. The bi-partisan legislation is expected to be signed by President Trump.