Coronavirus Aid, Relief and Economic Security (CARES) Act, unemployment payment amounts will increase, more folks will qualify, and benefits will be available longer.
Previously, only those workers who receive W-2s from their employer qualified for unemployment benefits. However, with the new Pandemic Unemployment Assistance (PUA) through the CARES Act, folks who are self-employed, gig workers, 1099 independent contractors or have a limited work history can now also file for unemployment benefits.
The first round of stimulus money should start arriving this week for those who already have direct deposit set up with the IRS. But that’s just the beginning … the process could take several months to get money to every taxpayer — more than 100 million of us!
We have received a record number of calls regarding the new Coronavirus Aid, Relief and Economic Security (CARES) Act, which President Trump signed into law on March 27, 2020. This $2 trillion economic stimulus legislation aims to provide relief for individuals and businesses that have been negatively impacted by the coronavirus outbreak. Here’s a look at some of the key provisions and how they may affect you. We’ll be happy to answer your questions as best we can — just call us at 706-632-7850 or email us.
You have questions? We have answers … well, mostly we do! With all the changes to the current tax season, the IRS and the State of Georgia are constantly updating details and requirements. To help condense some of this information, we’ve answered some of the more relevant questions below.
During a recent Oval Office address, President Trump said the IRS would extend the April 15, 2020, federal income tax filing deadline. However, as of now, the IRS has not yet announced a new date, and it’s not yet clear if the new deadline would apply to all taxpayers. Or how Georgia filing would be affected. So, we are still proceeding as usual with these important dates.
Several years later, the 2017 Tax Cut & Jobs Act continues to impact our taxes and the tax return forms we use. Keep these changes in mind when filing this year.
According to a recent study by GOBankingRates, Georgia ranks as one of the best states to retire if you’re trying to stretch your nest egg. Let’s see where you’re at.
Chances are, you will never face an IRS audit — only 0.45% of taxpayers were audited last year. However, you may encounter other types of more-frequent IRS inquiries, such as income-reporting discrepancies or additional tax due notices.
Need to know just how many invoices are unpaid or more than 30 days past due? Did you remember to bill all of the time and expenses for that project you just completed? With QuickBooks, you can easily find out the information you need.