Congress Expands Small Business COVID-19 Relief

April 27, 2020

Congress and the Trump administration have struck a deal on another piece of legislation, the latest in a series of federal measures intended to provide relief in response to the novel coronavirus (COVID-19) pandemic. The $484 billion legislation, which is being referred to as the…

Answers to questions you may have about Economic Impact Payments

April 23, 2020

Millions of eligible Americans have already received their Economic Impact Payments (EIPs) via direct deposit or paper checks, according to the IRS. Others are still waiting. The payments are part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Here are some answers to…

COVID-19: IRS Announces More Relief and Details

April 20, 2020

In the midst of the coronavirus (COVID-19) pandemic, Americans are focusing on their health and financial well-being. To help with the impact facing many people, the government has provided a range of relief. Here are some new announcements made by the IRS. More deadlines extended…

100% Bonus Depreciation of Qualified Improvement Property Under CARES Act

April 14, 2020

Under Section 2307 of the CARES (Coronavirus Aid, Relief, and Economic Security) Act signed into law on March 27th, 2020, there is a significant change regarding Qualified Improvement Property (QIP). Any 39-year real property that qualifies as QIP is now assigned a 15-year recovery period…

The IRS Announces New COVID-19-related Assistance for Taxpayers

April 13, 2020

The IRS and the U.S. Department of Treasury have announced new relief for federal taxpayers affected by the coronavirus (COVID-19) pandemic. The IRS had already extended certain deadlines to file and pay federal income taxes and estimated tax payments due April 15, 2020, without incurring…