Tax Updates

 

In 2019, Americans gave an estimated $449.64 billion to charities and this year likely will see similar or greater donations. This is the season to be generous, especially with the added need of many ...

It has long been solid general tax advice to defer income so that it becomes taxed in a future year. However, 2020 is a year like no other and standard tax advice does not apply to all individuals. If...

As a result of COVID-19, required minimum distributions (RMDs) have been suspended for 2020. The IRS has provided guidance on how to deal with this suspension (Notice 2020-51). Here are some of the ra...

As a result of the pandemic, Congress has created a number of payments and programs for individuals to help them financially. If you’ve received one or more of these payments or benefited from one o...

The worldwide pandemic—Covid-19—has changed everything…taxes included. Congress has enacted a new law (Families First Coronavirus Response Act, H.R. 6201, or “the Act”), to provide economic ...

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