by Anne Angera | Apr 16, 2020 | COVID-19 Legislative Update, Resources For Individual Taxpayers
The Coronavirus Aid, Relief and Economic Security (CARES) Act waives all required minimum distribution (RMD) requirements for tax-qualified defined contribution plans including IRAs for the calendar year 2020. The 2020 RMD waiver applies to individuals who have...
by Anne Angera | Apr 16, 2020 | COVID-19 Legislative Update, Resources For Individual Taxpayers
An announcement from Governor Wolf’s office on April 10 stated “The Pennsylvania Department of Labor & Industry (L&I) is implementing new federal unemployment compensation benefits provided by the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The...
by Anne Angera | Apr 16, 2020 | COVID-19 Tax Update, Resources For Individual Taxpayers
The IRS launched a new tool on their website to help non-filers register for Economic Impact Payments. According to the IRS individuals who should be using this tool are eligible U.S. citizens or permanent residents who: Had gross income that did not exceed $12,200...
by Anne Angera | Apr 14, 2020 | COVID-19 Legislative Update, Resources For Employers
A few weeks ago President Trump signed into action the Families First Coronavirus Response Act (FFCRA), which includes the Emergency Paid Sick Leave Act (herein referred to as “sick leave”) and the Emergency Family and Medical Leave Expansion Act (herein referred to...
by Anne Angera | Apr 7, 2020 | COVID-19 Legislative Update, Resources For Employers
As part of an expanded Economic Injury Disaster Loan (EIDL) Program, the U.S. Small Business Administration (SBA) will provide a $10,000 loan advance to anyone applying for EIDL which is subject to loan forgiveness reduction under the Paycheck Protection Program...
