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IRS Adds Enhancements to Get My Payment Tool

The IRS added enhancements to the Get My Payment tool in order to provide a smoother experience for Americans looking to find the status of their Economic Impact Payments. The enhancements adjusted several items to the online tool that will help taxpayers with new or expanded information and access to adding direct deposit information. "We delivered Get My Payment with new capabilities that did not exist... Read More

Additional Funding for Paycheck Protection Program

On April 24, 2020, the President signed the $484 billion coronavirus relief bill that will provide additional relief to employers and hospitals that are struggling as a result of the COVID-19 pandemic. The bill, being referred to as CARES 2, will replenish funding for relief that was quickly exhausted after the CARES Act was enacted in March. The funding is allocated as follows: Paycheck Protection... Read More

Senate Passes Bill to Replenish Paycheck Protection Program

The $350 billion Paycheck Protection Program was a central piece of the massive $2 trillion CARES Act passed just a few weeks ago. However, last week the Small Business Administration announced that they would no longer be able to accept new applications based on the available appropriations funding. This left many business without the much needed relief to continue to pay employees and sustain business... Read More

IRS Launches Stimulus Payment Portal

If you are expecting an economic stimulus payment as a result of the CARES Act, you can now check the status of your payment. The IRS has launched a portal for taxpayers to check payment status, confirm payment type (direct deposit or check), and update bank account information for direct deposit. For most taxpayers, the payment is automatic without requiring any action. You can check your... Read More

Pioneers in Energy Innovation

On this episode of Supply Chain Now, Scott is joined by Jason Moss and Laura Madajewski for the newest episode of the Today in Manufacturing Series. They are happy to welcome Joshua Lebarre with Sonnen into the studio. Read More

CARES Act: Business Provisions

CARES Act - Business Provisions Summary The Coronavirus Aid Relief and Economic Security Act (CARES Act) was unanimously passed on March 27th to provide taxpayers relief resulting from the COVID-19 outbreak. This $2.2 trillion dollar bill contains numerous tax provisions benefiting both individuals and businesses. The following is a summary of the business tax changes implemented by the CARES Act.... Read More

CARES Act: Qualified Improvement Property

The Coronavirus, Aid, Relief and Economic Security Act (the CARES Act), is designed to provide financial relief and assistance to business and individuals. The CARES Act was signed into law on Friday, March 27th and is one of the largest economic stimulus packages in history with anticipated $2 trillion dollars of financial assistance. One of the key business provisions included a retroactive amendment... Read More

The CARES Act: Code Section 163(j)

On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (the CARES Act) was signed into law as the third COVID-19-related stimulus package. The newest package consists of approximately $2.2 trillion of financial relief to assist with supporting businesses and individuals that have been negatively impacted by the economic decline. This article discusses the modification to the... Read More

Federal and State Tax Filing Guidance for Coronavirus Pandemic

As of March 21, 2020, the Treasury Department and Internal Revenue Service announced that the federal income tax filing due date is automatically extended from April 15, 2020, to July 15, 2020. As a result of the postponement of the due date for filing federal income tax returns, taxpayers can now defer federal income tax payments due on April 15, 2020, to July 15, 2020, without penalties and interest, regardless of the amount owed. This relief applies to all taxpayers, including individuals, corporations, trusts and estates and other non-corporate tax filers as well as who pay self-employment tax. Read More