by Lisa Monk & Associates LLC | Jun 23, 2020 | Tax Tips and News
The COVID-19 pandemic has forced millions of Americans to take extraordinary steps just to stay afloat financially. For those taxpayers who might want to take distributions against their retirement plans or even borrow against their plans, the IRS has announced new...
by Lisa Monk & Associates LLC | Jun 18, 2020 | Tax Tips and News
Update: A previous version of this blog said MeF would be down from 12:00 a.m. Eastern on Wednesday, June 16, 2020 until 10:30 a.m. Eastern on Sunday, June 21, 2020. The service will only be down on Sunday from 12:00 a.m. until 10:30 a.m. Eastern. Tax...
by Lisa Monk & Associates LLC | Jun 17, 2020 | Tax Tips and News
A new report from the Treasury Inspector General for Tax Administration (TIGTA) finds that a number of tax preparers are themselves classified as non-compliant, but in many cases, the Internal Revenue Service has not acted to recoup the outstanding tax due. The audit...
by Lisa Monk & Associates LLC | Jun 16, 2020 | Tax Tips and News
Will PPP borrowers be able to receive partial loan forgiveness? Before the ink dried on the latest COVID-relief legislation, tax pros and small business owners alike had questions about the Paycheck Protection Program Flexibility Act. Despite being designed to expand...
by Lisa Monk & Associates LLC | Jun 16, 2020 | Tax Tips and News
An unforeseen consequence of the COVID-19 pandemic is pushing the IRS due date for some payments back a bit. The Internal Revenue Service is delaying the due dates on some of its paper balance-due notices because the IRS wasn’t able to mail the preprinted notices due...
