There are several near-term changes to the tax code as a result of legislation passed in response to COVID-19. Here are some highlights for you to consider. Early distribution penalty waived - The 10% early distribution penalty on up to $100,000 of retirement withdrawals for...
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The Coronavirus Aid, Relief, and Economic Security (CARES) Act recently signed into law provides a one-time payment, among other items, to individuals to help ease the economic strain caused by the coronavirus epidemic. Here are the details of the stimulus payment initiative. Who qualifies...
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On Wednesday, March 25, the Senate passed the “Coronavirus Aid, Relief, and Economic Security Act” or the “CARES Act" by a unanimous vote. As of this writing, the CARES Act is not yet law. The Act must be passed by the House and signed into...
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The deadline to pay your tax bill is officially moved from the April 15th tax deadline to July 15th, per U.S. Treasury Secretary Steven Mnuchin. This announcement was made on Tuesday, March 17, 2020 during a press conference at the White House and confirmed by...
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