New Alabama Legislation to Exempt Federal COVID Benefits from Alabama Income Tax
Yesterday, Alabama House Bill 231 and Alabama Senate Bill 152 were forwarded to Governor Kay Ivey for signature. This legislation, when signed, will effectively exempt from state income taxes certain federal benefits that taxpayers received from the American Rescue Plan Act last year, a coronavirus relief bill passed by Congress. The exemption applies to the…
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FEMA is Reimbursing Up To $9,000 For Each COVID-19 Related Funeral
Under the Coronavirus Response and Relief Supplemental Appropriations Act of 2021 and the American Rescue Plan Act of 2021, FEMA is providing financial assistance for COVID-19 related funeral costs. The benefit is a maximum of $9,000 per deceased individual or $35,500 per applicant for multiple deaths. As of January 3, 2022, FEMA received 9,077 applications…
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A Better Way to Make Federal and State Tax Payments?
By: Lane Hooper, Dent Moses Staff Accountant Since the pandemic began, the Internal Revenue Service has struggled to process returns, payments and correspondence. See our July 13th post (link here) if you’d like to read more in depth about the current state of affairs at the IRS. If one of our clients experiences an IRS…
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New Funding for Health Care Providers
There are two new funding opportunities available specifically for Health Care providers. Application Deadline: October 26, 2021 at 11:59 pm EST CLICK HERE TO APPLY Combined application for Provider Relief Fund (PRF) Who is eligible? Providers or suppliers who bill Medicare fee for-service (Parts A, B, and C), Medicaid (fee-for-service or managed care) and/or CHIP as…
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Post-Covid: The Future of the Workplace – Panel Discussion hosted by Dent Moses
Dent Moses Managing Partner, Mike Baker, led a thoughtful and insightful conversation with Mitchell Greggs of Maynard Cooper and Joe Daniel of Streamline CXO about the current issues around returning to the workplace post-COVID.
Biden Administration Proposes Tax Initiatives
The Biden administration recently released a proposed budget for the fiscal year 2022, referred to as the “Green Book”. The budget includes a number of proposals for tax increases along with a series of increased or extended tax credit and incentive programs. Here is a list of some of the proposed changes:
Time to Revisit Paycheck Protection Program Forgiveness
If you have not applied for forgiveness, now is the time and the deadline may be fast approaching.
IRS Extends Individual Tax Deadline
On Wednesday, March 17, the IRS announced that the 2020 individual income tax filing deadline will be automatically extended from April 15, 2021, to May 17, 2021.
Biden Signs New $1.9 Trillion COVID Relief Legislation into Law
As you can imagine, the new $1.9 trillion COVID Relief Legislation covers a lot of ground. Here are the provisions that we believe will be of greatest interest to you:
Filing Season Readiness Update
We’ve hit the ground running in 2021 on a variety of projects – namely PPP-1 loan forgiveness, PPP-2 loan applications, and Employee Retention Credit analysis. If you would like to learn more about what we are doing in these areas, please contact us. In the meantime, we have extended our work hours for filing season and…
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