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CJBS

ERC Under the Cares Act

Dear Clients and Friends, The IRS has published frequently asked questions on the employee retention credit that is contained in the CARES Act. Background. The CARES Act provides a refundable payroll tax credit for 50% of wages paid by eligible employers to certain employees during the COVID-19 crisis. The credit is available to employers, including non-profits, whose […]
April 3, 2020
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CJBS CARES Act Summary

The passing of the CARES Act on Friday provides relief to small businesses through programs administered by the Small Business Administration (SBA) and other important provisions for relief to individual taxpayers.
March 30, 2020
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Updated Income Tax Filing and Payment Extension Information

Dear Clients and Friends, As we have previously reported, the Internal Revenue Service announced Federal income tax return filing and payment relief by moving the due date for filing tax returns and paying the related taxes from April 15th to July 15th. The Service has released guidance as to which tax returns and their related payments […]
March 27, 2020
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Tax Filing Deadline Extended – April 15th is now July 15th

Dear Clients and Friends, The Treasury Department and Internal Revenue Service announced that the 2019 income tax filing and payment deadlines for all taxpayers who file and pay their Federal income taxes on April 15, 2020, are automatically extended until July 15, 2020. This relief applies to all individual returns, trusts, and corporations. Taxpayers do […]
March 24, 2020
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IRS Extends 2019 Payment Due Date

Yesterday IRS and the Department of Treasury announced that taxpayers will be allowed to defer payments related to 2019 tax returns until July 15th, thereby providing 90 extra days to pay additional tax. The amount of tax that can be deferred is capped at $1 million for individuals and $10 million for corporations.  The payment extension […]
March 18, 2020
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The SECURE Act and How It Could Affect Your Retirement

As part of a larger government spending package, the Setting Every Community Up for Retirement Enhancement Act (SECURE Act) was recently signed into law.  The Act includes many provisions and reforms aimed at making saving for retirement easier and more accessible. The Secure Act changes several provisions related to tax-advantaged retirement accounts.  Most provisions in […]
January 17, 2020
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