by DunlapSLK | May 13, 2020 | COVID-19 Tax Update, Resources For Employers, Resources For Individual Taxpayers
In response to the COVID-19 crisis, on Tuesday, May 12 the IRS announced relief for Section 125 cafeteria plans during calendar year 2020, providing increased flexibility for: employer-sponsored health coverage health Flexible Spending Arrangements (health FSAs)... by DunlapSLK | May 8, 2020 | COVID-19 Tax Update, Resources For Individual Taxpayers
While an economic downturn is never good news for investors, it presents a potentially valuable opportunity for individuals considering converting their traditional IRA (and funds that have been rolled over from a qualified plan) to a Roth IRA. It is important to... by DunlapSLK | 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 DunlapSLK | 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 DunlapSLK | 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 DunlapSLK | Apr 2, 2020 | COVID-19 Legislative Update, Resources For Individual Taxpayers
The Coronavirus Aid, Relief, and Economic Security (CARES) Act has made available over $300 billion for direct cash payments to most U.S. individuals and families. The rebate will consist of $1,200 per individual ($2,400 for joint filers), plus $500 per child....
