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On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief and Economic Security (CARES) Act, a $2.2 trillion emergency financial stimulus package. The most notable provision of the CARES act is the Recovery Rebate...Read More
Due to the coronavirus pandemic, the Internal Revenue Service extended the filing and tax payment due date for the tax year 2019 tax returns to July 15, 2020. Interest and penalties will start accruing on July 16, 2020 for any unpaid...Read More
On December 20, 2019, the Congress passed and the President signed into law the SECURE (Setting Every Community Up for Retirement Enhancement) Act. The key changes affect the rules regarding the age for Required Minimum Distributions...Read More
According to the Kiplinger Tax Letter dated June 29, 2018; "Filling out the 1040 next year will be more challenging for many filers." This conclusion is based upon their review of the drafts of the new form. The President indicated...Read More
The Tax Act and Jobs Act made significant changes to the tax law, including changing the tax rates and brackets, increasing the standard deductions, eliminating personal exemptions, increasing the child tax credit and limiting or...Read More