October's Extended Due Date Is Fast Approaching (And So Are Penalties!)
Did you complete your 2019 return by July 15? If not, and you filed a request for more time, that extended due date expires October 15, 2020.
COVID-19 Testing, Diagnostics Not Minimum Essential Coverage
The IRS has news regarding COVID-19 testing and diagnostics. Medicaid coverage limited to COVID-19 services does not qualify as minimum essential coverage.
Traditional IRA and RMD Opportunities to Explore for 2020
Many people have taken financial hits this year. However, 2020 does provide some unique tax opportunities for those with traditional IRA accounts.
Health Savings Accounts (HSAs): What You Need to Know
HSAs are misunderstood and underused. Congress created them so those with HDHPs could save for medical expenses not covered by insurance.
New Opportunity For $500 Economic Impact Payments for Children
The IRS reopens registration for those with children who didn't receive Economic Impact Payments. Did you receive your $500/child stimulus payment?
Stimulus Checks Issued to Decedents Cancelled by the IRS
The Treasury Dept. has cancelled outstanding stimulus checks issued to ineligible recipients. This includes those declared deceased.
Qualified retirement plan rules affect COVID-19-related layoffs and rehires
Have you laid off employees because of COVID-19? Plan to rehire some of them before 2020 ends? If so, and you offer a qualified retirement plan, listen up!