What you really want to know about Economic Impact Payments Is this payment considered taxable income? No, the payment is not income and taxpayers will not owe tax on it. The payment will not reduce a taxpayer’s refund or increase...
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The Coronavirus Aid, Relief, and Economic Security (CARES) Act includes several changes that encourage charitable giving during the coronavirus (COVID-19) crisis. This is welcome news for certain public charities, including churches, educational...
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Some essential businesses have remained open during the COVID-19 pandemic and adjusted quickly to protect the well-being of their employees. However, others are just preparing to reopen as soon as state and local officials lift restrictions. ...
Read MoreFew businesses have been left unscathed by the novel coronavirus (COVID-19) pandemic. Unfortunately, many have been mortally wounded. Some may be living on life support thanks to financial help from the government, but their long-term survival is...
Read More Millions of Americans have already received their Economic Impact Payments. The IRS continues to calculate and automatically send the payments. However, some may have to provide additional information to the IRS to get their Payments. Please...
Read MoreCheck IRS.gov for the latest information: No action needed by most people at this time IR-2020-61, March 30, 2020 WASHINGTON – The Treasury Department and the Internal Revenue Service today announced that distribution of economic impact payments...
Read MoreThe Coronavirus Aid, Relief, and Economic Security (CARES) Act allocated 350 billion to help small businesses keep workers employed amid the pandemic and economic downturn. Known as the Paycheck Protection program, the initiative provides 100%...
Read MoreThere will be many resources available to the small business owner and other employers, but which one is right for your company? Information is abundant and we know you have concerns. We are here to help you with any questions you may have. ...
Read MorePresident Trump has signed legislation to infuse the U.S. economy with roughly $2 trillion in financial relief during the coronavirus (COVID-19) pandemic. This is welcome news for people and businesses that have suffered losses in recent weeks...
Read MoreUnemployment and Tax Credits – Navigating the Process The Cleveland Group, CPAs is working diligently to assist our clients through this process and monitoring all of the tax legislation to further assist our clients. Rest assured we are in this...
Read MoreTreasury Secretary Steven Mnuchin tweeted Friday that President Trump has directed him to move Tax Day to July 15, giving taxpayers more time to file their taxes in the midst of the coronavirus pandemic. All taxpayers and businesses will have...
Read MoreUnder normal circumstances, we are super excited to see you! However, effective Friday, March 20th we have decided to follow the CDC guidelines and close our lobby to the public. Only employees will be allowed in the building. For now, our...
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