The IRS and our home state of Illinois have announced postponing the deadline for all individual tax returns from April 15 to May 17 this year in realizing the hardship that many taxpayers are still experiencing as a result of the Covid-19 pandemic.
The President yesterday signed the American Rescue Plan Act into law, so the much anticipated $1.9 Trillion Covid-19 stimulus package is official.
In the past the beginning of March has always meant certain things to me – we have endured the worst weather of another Chicago winter and spring is close; the groundhog has seen his “tax” shadow so there is only six more weeks of tax season; golf season will soon be here; and a funny John Belushi bit about March coming in like a lion (worth the YouTube search).
Internal Revenue Service (IRS) has just announced new guidance on retroactive changes to the employee retention credit, expanding its availability and wage limitation to $10,000 per employee per quarter.
Tax season may be a stressful time for many business owners, and unfortunately, some try to take advantage of that. This is a peak time for financial scams. That’s why it’s so important to be vigilant and never respond to emails or click on links unless you are sure they are genuine. Some scams will ask […]