Tax News & Articles

IRS is going to be issuing paper checks on a weekly basis based on AGI and in $10,000 increments. If you know your AGI from 2019 (if you've already filed your federal return) or 2018 (if you've yet to file), this will tell you precisely when you can expect to receive your stimulus check.

In this letter, I will explain how you may be able to take money from your IRA and other retirement accounts, avoid early withdrawal penalties, and have generous options on repayment (or not). I will also explain when you don’t have to take the required minimum distribution from your IRA.

Economic Impact Payments: What you need to know

The COVID-19 pandemic has upended all aspects of life around the world, including the world of business here in the U.S. If your business is struggling, you may be able to get some help from the federal Small Business Administration (SBA), which is authorized to provide loans to small businesses on an as-needed basis. There are two types of relief you can apply for—read on.

7. As an employee, how much will I be paid while taking paid sick leave or expanded family and medical leave under the FFCRA? It depends on your normal schedule as well as why you are taking leave. 9. May I take 80 hours of paid sick leave for my self-quarantine and then another amount of paid sick leave for another reason provided under the Emergency Paid Sick Leave Act? No. You may take up to two weeks—or ten days—(80 hours for a full-time employee, or for a part-time employee, the number of hours equal to the average number of hours that the employee works over a typical two-week period) of paid sick leave for any combination of qualifying reasons. However, the total number of hours for which you receive paid sick leave is capped at 80 hours under the Emergency Paid Sick Leave Act.

Free and charitable clinics provide medical, dental and pharmaceutical services for free or at a nominal fee to low-income individuals and those without health insurance. Almost all clinics provide primary care, including preventative care and care for chronic diseases like diabetes, hypertension, asthma/COPD and depression. Every clinic is different. Free and charitable clinics generally accept donations and some request a nominal fee for services.

Bezpłatne i charytatywne kliniki świadczą usługi medyczne, dentystyczne i farmaceutyczne za darmo lub za symboliczną opłatą osobom o niskich dochodach oraz osobom bez ubezpieczenia zdrowotnego. Prawie wszystkie kliniki zapewniają podstawową opiekę, w tym profilaktykę i leczenie chorób przewlekłych, takich jak cukrzyca, nadciśnienie, astma / POChP i depresja. Każda klinika jest inna.

Unemployment benefits for Self-employed workers, independent contractors, and freelance workers who lose their income due to the COVID-19 will be eligible for unemployment benefits.

The IRS has now extended the deadline for filing and paying federal income tax. The due date for any taxpayer with a federal income tax payment or a federal income tax return due April 15, 2020 is automatically postponed to July 15, 2020. Taxpayers do not have to file extensions. There is no limitation on the amount of the payment that may be postponed.

Qualified charitable organizations include nonprofit groups that are religious, charitable, educational, scientific, or literary in purpose, or that work to prevent cruelty to children or animals...

Under the new regulations, the individual who pays alimony to an ex-spouse will no longer be able to deduct those payments. And the recipient of the money will no longer pay taxes on that income