How to Protect Yourself Against Coronavirus-Related Scams
The IRS and other government agencies note a rise in scams during the COVID-19 crisis. Individuals and groups are taking advantage of unwitting taxpayers.
Form W-2 reporting of COVID-19-related sick leave and family leave
In Notice 2020-54, the IRS provided new guidance. The guidance advises employers on Form W-2 reporting of qualified sick leave and family leave wages
Social Security Taxes Deferred: What Does It Mean for Your Business?
The President signed a Presidential Memorandum to defer employee's Social Security taxes. The action only defers the taxes; they’ll be paid back eventually.
Possible Tax Consequences of Paycheck Protection Program (PPP) Loans
Was your business lucky enough to get a Paycheck Protection Program (PPP) loan? Then, Fiducial has some info you may need about potential tax implications.
Don’t Throw Away Your Notice 1444! You’ll Need It for Your 2020 Taxes
The IRS mailed Economic Impact Payment recipients a Notice 1444. This notice includes payment amount, payment method and how to report payment not received.
Safe Harbor 401(k)s: IRS Relief for Midyear Contribution Changes
In response to the COVID-19 crisis, the IRS issued Notice 2020-52. It offers sponsors of safe harbor 401(k) plans temporary relief from some requirements.
Paycheck Protection Program (PPP) Loan Application Period Extended
Miss your chance to apply for a Paycheck Protection Program (PPP) loan? Well, Congress extended the application period for PPP loans through August 8, 2020.