The economic downturn of the coronavirus pandemic that struck back in March left millions of Americans without jobs. Currently, more than 22 million people are collecting unemployment benefits — much of which is a direct result of the country shutdown. And while the CARES Act offered some relief to those impacted by the economy closure through
If you’re a small business owner, you’re likely dealing with the many ongoing financial implications of the COVID-19 pandemic and searching for ways to minimize the impact it has on your business. One of the ways you can find financial relief during this time is through the U.S. Small Business Administration (SBA)’s Debt Relief program.
On March 27, 2020, the U.S. Congress passed the $2 trillion Coronavirus Aid, Relief, and Economic Security (CARES) Act in order to provide fast, direct financial assistance for American families, small businesses and workers affected by the COVID-19 pandemic. The main stimulus program for small businesses found in the CARES Act is the Paycheck Protection
Form W-4, which instructs your employer on how much tax to withhold from your paycheck, received a makeover at the start of 2020. It’s the first major redesign of the form in 33 years, dating all the way back to 1987. The adjustments simplified the form and implemented the tax code changes that went into
Listen to this: the IRS has more than $1.5 billion in outstanding refunds remaining unclaimed from 2016. Not thousands. Not millions. Over ONE BILLION dollars are just sitting with the IRS, waiting for you to come get it. You have three years In most cases, you have a three-year window to file a tax return
Andrew Oswalt, senior tax analyst at TaxAct, explains why your stimulus money will not impact your 2020 tax outcome when you file next year. Click to watch! [embedded content] Have more questions? Visit our Everything You Need to Know About the Stimulus Payments blog post for additional details regarding your stimulus payment.
Q: I received a stimulus payment on behalf of my deceased relative. Should I cash it? A: According to the IRS FAQ page on its website, families who receive a stimulus payment on behalf of a deceased loved one should send the money back to the government. The FAQ specifically states: A Payment made to