The IRS has created an online form for people who don’t normally file a tax return, known as non-filers. It’s a free and easy way to provide basic information so non-filers can receive their economic impact payment as soon as possible.
The Payroll Protection Program (“PPP”) has helped many small businesses survive around the country by providing funding for payroll and some other operating costs.
You, like all the other borrowers, immediately want to know how much of the loan proceeds can be forgiven. After all, “free” money is significantly more desirable than a loan, even if the interest rate is only 1%.
The Act provides a credit equal to 100% of the “Qualified Sick Leave Wages” paid by an employer.
Required Minimum Distributions (RMDs) are generally required to start from an employer retirement plan or IRA by April 1 of the year after the plan participant or IRA owner reaches age 70½ (age 72 for those who reach age 70½ after 2019). These required distributions continue throughout the life of the individual. However, due to …