Coronavirus Aid Relief and Economic Security Act

Jen: This is the PKF Texas Entrepreneur’s Playbook. I’m Jen Lemanski, and I’m back once again with Kristin Ryan, an Audit Senior Manager and one of the faces of the PKF Texas Employee Benefit Plan team. Kristen, welcome back to the Playbook.

Kristin: Thanks for having me.

Jen: So, we’ve had a webinar on it, you’ve done some Entrepreneur’s Playbooks on it, but there’s so much to cover between the SECURE Act and the CARES Act. What else do our folks need to know?


Continue Reading More on the SECURE Act and CARES Act

Millions of eligible Americans have already received their Economic Impact Payments (EIP) via direct deposit or paper checks, according to the IRS. Others are still waiting. The payments are part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act.

coins--pennies, quarters, dimes and nickels--pouring out of a glass jar into a pile; image used for blog post about answers for Economic Impact Payments during the COVID-19 pandemic

Here are some answers to questions you may have about EIPs.

Who’s eligible to get an EIP?
Eligible taxpayers who filed their 2018 or 2019 returns and chose direct deposit of their refunds automatically receive an Economic Impact Payment. You must be a U.S. citizen or U.S. resident alien and you can’t be claimed as a dependent on someone else’s tax return. In general, you must also have a valid Social Security number and have adjusted gross income (AGI) under a certain threshold.
Continue Reading Economic Impact Payments – Answers to Your Questions

In the midst of the coronavirus (COVID-19) pandemic, Americans are focusing on their health and financial well-being. To help with the impact facing many people, the government has provided a range of relief.

close up image of a journal with black ink writing on top of papers for at ax statement for year 2019; image used for blog post about COVID-19 relief announced by the IRS

Here are some new announcements made by the IRS.

More Deadlines Extended
As you probably know, the IRS postponed the due dates for certain federal income tax payments — but not all of them. New guidance now expands on the filing and payment relief for individuals, estates, corporations and others.
Continue Reading More COVID-19 Relief Announced by IRS