by Anne Angera | Aug 21, 2020 | Resources For Employers, Resources For Individual Taxpayers
Did you receive a notice from the IRS advising you that you owe money for your 2019 tax return? Had you already paid the amount being requested? Unfortunately you are not alone. The IRS is currently working through an enormous backlog of mail due to the Coronavirus...
by Anne Angera | Aug 14, 2020 | Resources For Employers, Resources For Individual Taxpayers
After Congress failed to act with additional economic relief legislation, the President issued four executive orders this past weekend. The most significant order provides for a deferral of payroll taxes. The remaining three orders address increased unemployment...
by Anne Angera | 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 Anne Angera | 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 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...
