Covid-19 tax relief

COVID-19 Relief: Overview of the New American Rescue Plan Act

March 18th, 2021|Categories: American Rescue Plan Act, Covid-19, COVID-Related Tax Relief Act (COVIDTRA), IRS, Services, Tax, Tax Credits, Tax Cuts, Tax Deductions, Tax Preparation|Tags: , , , , , , , , , , , |

The American Rescue Plan Act (ARPA) was signed into law on March 11, 2021. The new law will provide roughly $1.9 trillion in much-needed financial relief to individuals, businesses, not-for-profit organizations, [...]

New Law Includes Favorable Changes for Individuals

January 5th, 2021|Categories: Accounting, Burns Firm, Consolidated Appropriations Act of 2021 (CAA), Coronavirus, Covid-19, COVID-Related Tax Relief Act (COVIDTRA), Tax, Taxpayer Certainty and Disaster Tax Relief Act (TCDTRA)|Tags: , , , , , , , , , , , |

The massive COVID-19 relief bill signed by President Trump on December 27, 2020, contains a variety of tax breaks and authorizes direct payments to eligible individuals (see right-hand box). The law [...]

What Qualifies as a “Coronavirus-Related Distribution” From a retirement Plan?

June 23rd, 2020|Categories: Coronavirus, Covid-19, Retirement Plan|Tags: , , , , , , , |

As you may have heard, the Coronavirus Aid, Relief and Economic Security (CARES) Act allows “qualified” people to take certain “coronavirus-related distributions” from their retirement plans without paying tax. So [...]

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