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Federal Tax Date Postponed to May 17

The filing date for the federal income tax has been postponed until May 17. The IRS has announced that individual taxpayers can also postpone federal income tax payments for the 2020 tax year due on April 15, 2021, to May 17, 2021, without penalties and interest,...

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Congress Loosens PPP Loan Restrictions

Congress recently passed legislation to loosen some of the restrictions that came with the popular Payroll Protection Program; the president signed it into law on June 5. The new law runs only about 1,000 words, but contains several major changes that vastly extend...

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Covid-19 (Coronavirus) Pandemic Update

We are genuinely in a scary time, with many businesses upended by the Covid-19 pandemic. Businesses saddled with IRS and state tax problems face a host of new, complex questions. For 30 years as a CPA, tax resolution, and business turnaround specialist, I have focused...

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What Changes With the New Taxpayer First Act?

The Taxpayer First Act of 2019 is redesigning how the IRS works with taxpayers, even though it may take a while for many of the provisions to take effect. Some experts have highlighted the following aspects of the bill as especially important: An independent appeals...

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