2020

The IRS announced starting in January, the Identity Protection PIN (“IP PIN”) Opt-In Program will be expanded to all taxpayers who can adequately verify their identities. Please visit the IRS IP PIN webpage in January 2021 if you would like to opt-in to the IP PIN program.

November 19, 2020 Last night, Wednesday, November 18, 2020, the IRS issued a Revenue Ruling stating regardless of when the PPP Loan Forgiveness is submitted and there is a reasonable expectation the forgiveness will occur in the future, then the correlating PPP Loan expenses are non-deductible for

The Internal Revenue Service and Security Summit partners are warning taxpayers of a new text scam created to trick people into disclosing bank information under a guise of receiving the $1,200 Economic Impact Payment.  Click the link below to read more about the text scam. READ MORE…

Do you still owe tax debt to the IRS? The IRS announced a new program, The Taxpayer Relief Initiative, to help taxpayers who may be unable to pay their taxes due to the COVID pandemic. Please see the Journal of Accountancy article, which highlights the initiative qualifications.

Is your business still in need of assistance to get through the effects of the Pandemic? The Federal Reserve Board recently announced changes to their Main Street Lending Programs to make them more accessible for smaller businesses, even if you have received a PPP Loan earlier this

Gift cards are a popular and convenient gift, especially during this holiday season. They are also a tool scammers use to steal money from people. Click the link below to learn more about these types of scams so they don’t ruin your holiday season. READ MORE…

With 2021 approaching, we thought it would be beneficial to highlight key inflation adjustments that may impact you or your business.  Click the links below to review each document applicable to your situation. Please don’t hesitate to contact your tax professional with any questions you may have.

We recently came across an excellent article discussing five 2020 year-end planning ideas.  According to the article, here are the top five planning ideas: 2020 Roth Conversions IRA Distributions Qualified Charitable Distributions for 2020 Gifting Updating Estate Plans After The SECURE Act With 2020 coming to a

As a parent, there are teachable moments that can have a lasting impact on your child.  Teaching your college-age kids about debt can be one of those.  Many young adults do not understand how debt works and the impact it can have on them.  We recently came

We recently received an update about the Arizona Corporate Tax Credit available to C and S-Corporations.  There are still corporate tax credit funds available for the tax year 2020.  If you are looking to redirect your Arizona state income tax dollars, we encourage you to look into