California Tax Updates for April 15th
Post 1: Special tax relief is available for certain filing and payment deadlines, said the California Franchise Tax Board (FTB), in response to the coronavirus (COVID-19). The FTB has posted on its website a spreadsheet [...]
COVID-19: IRS Announces More Relief And Details
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. Here are [...]
Relief From Not Making Employment Tax Deposits Due To COVID-19 Tax Credits
The IRS has issued guidance providing relief from failure to make employment tax deposits for employers that are entitled to the refundable tax credits provided under two laws passed in response to the coronavirus (COVID-19) [...]
IRS Provides Guidance Under The CARES Act To Taxpayers With Net Operating Losses
The Internal Revenue Service today issued guidance providing tax relief under the CARES Act for taxpayers with net operating losses. Recently the IRS issued tax relief for partnerships filing amended returns. COVID Relief for taxpayers [...]
IRS Extends More Tax Deadlines To Cover Individuals, Trusts, Estates Corporations and Others
To help taxpayers, the Department of Treasury and the Internal Revenue Service announced today that Notice 2020-23 extends additional key tax deadlines for individuals and businesses. Last month, the IRS announced that taxpayers generally have [...]
Penalties For Late Property Tax Payments In California Will Be Waived
Due to the coronavirus (COVID-19) pandemic, penalties and other charges for late property tax payments in California will be waived. The CA Association of County Treasurers and Tax Collectors (CACTTC) has issued a statement regarding [...]
CARES ACT Changes Retirement Plan and Charitable Contribution Rules
As we all try to keep ourselves, our loved ones, and our communities safe from the coronavirus (COVID-19) pandemic, you may be wondering about some of the recent tax changes that were part of a [...]
IRS Issues Warning About Coronavirus-Related Scams
The IRS warned taxpayers to watch out for emails, text messages, websites, and social media attempts related to the coronavirus that request money or personal information. Taxpayers should not click on links from emails that [...]
Answers to Questions About the CARES Act Employee Retention Tax Credit
The recently enacted Coronavirus Aid, Relief, and Economic Security (CARES) Act provides a refundable payroll tax credit for 50% of wages paid by eligible employers to certain employees during the COVID-19 pandemic. The employee retention [...]
SBA Loans and the Paycheck Protection Program
Dear clients, family and friends, We hope you all are well and safe. At Linkenheimer, our staff continue to work hard from home to help our clients find peace of mind and navigate this difficult, [...]