IRS Penalty Relief – Learn Your Options Before You File Your Taxes!

The IRS can waive penalties it assessed against you or your business if there was “reasonable cause” for your actions. The IRS permits reasonable cause penalty relief for penalties arising in three broad categories: Filing of returns Payment of tax

Eligible Paycheck Protection Program Expenses are Now Tax Deductible

The Treasury Department and the IRS issued guidance allowing deductions for the payments of eligible expenses when such payments would result (or be expected to result) in the forgiveness of a loan (covered loan) under the Paycheck Protection Program (PPP). Revenue

Tax Updates for 2021

Does it seem like you just did your taxes? Even though you may have filed your individual return during the summer of last year, your 2020 tax return is due on April 15th! There are lots of changes this year,

Tax Updates for 2021

Does it seem like you just did your taxes? Even though you may have filed your individual return during the summer of last year, your 2020 tax return is due on April 15th! There are lots of changes this year, so let’s go over some of the most important ones. Higher Standard Deductions For many

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