January flurries are coming—and not just the white, fluffy kind that descend from winter skies. For business owners, the new year also brings a whirlwind of paperwork as they prepare for 1099 filing. Get ready for 1099s with these tips and changes.
This year has been a topsy-turvy one with an unending barrage of change. But taxes are a sure thing—even this year. Because of COVID-19 relief measures, there are many opportunities available to taxpayers, as well as some variables that could significantly change a person’s typical tax scenario. Know your options and be prepared with these tax updates for 2020.
With the economy destabilized by the Covid-19 pandemic, the U.S. government has spent trillions of dollars attempting to reduce the impact on American workers, families, and small businesses. Many Americans have received a stimulus check from the federal government, and many are hoping for another one this fall.
July 6 - Update on the PPP
With $129 billion still available, a 5-week extension has been approved. This extends the deadline for applying for a PPP loan from June 30 to August 8.
- Have not received an economic impact payment? Expecting a check in the mail? Check the status of your payment with this IRS web app: "Get My Payment"
- PA unemployment claims reach 1.67 million, state encourages online filing.
- Paycheck Protection Program has been refunded with an additional funding package