Deadline for estimated tax payments postponed until Wednesday, July 15
As part of its response to COVID-19, the IRS has postponed several tax deadlines until Wednesday, July 15, 2020. These postponements generally apply to all taxpayers with a filing or payment deadline between April 1 [...]
Employers who have received a PPP loan may defer deposit and payment of the employer’s share of Social Security tax
The Paycheck Protection Program Flexibility Act, enacted on June 5, 2020, amends section 2302 of the CARES Act. It strikes the rule that would have prevented an employer from deferring the deposit and payment of [...]
Taxpayers should file by July 15 tax deadline; automatic extension to Oct. 15 available
The Department of the Treasury and IRS today announced the tax filing and payment deadline of July 15 will not be postponed. Individual taxpayers unable to meet the July 15 due date can request an [...]
Employers who have received a PPP loan may defer deposit and payment of the employer’s share of Social Security tax
The Paycheck Protection Program Flexibility Act, enacted on June 5, 2020, amends section 2302 of the CARES Act. It strikes the rule that would have prevented an employer from deferring the deposit and payment of [...]
Don’t forget, Social Security benefits may be taxable
Taxpayers receiving Social Security benefits may have to pay federal income tax on a portion of those benefits.Social Security benefits include monthly retirement, survivor and disability benefits. They don't include supplemental security income payments, which [...]