990 Filing deadline has changed
A few weeks ago, the IRS postponed tax filing deadlines until July 15th, but seemed to have left nonprofits out. Tax-exempt organizations now have an extra two months to file […]
Category: Tax
Donor care during the COVID-19 pandemic
One of the many challenges of operating a not-for-profit organization during the coronavirus (COVID-19) pandemic is that just when you desperately need financial support, many donors are unable to help. […]
CARES Act deferral of, changes to and limits on excess business losses
During this challenging time, we know that everyone’s highest priority continues to be the health and well-being of their families, friends, neighbors and co-workers. At the same time, we’re focused […]
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 […]
Expanded Deductions for Charitable Giving Due to CARES Act
In response to COVID-19, and in an effort to encourage more charitable giving in 2020, the recently enacted government stimulus bill (the “CARES Act”) provides some additional tax relief for […]
The CARES Act Effect on Employer’s Payment of Payroll Taxes
A question was recently posed regarding an employer’s ability to defer payment of Social Security taxes, if they receive a Payroll Protection Program (PPP) loan. According to the IRS, employers […]
FAQ’s about the Paycheck Protection Program (PPP)
If you’re like most employers, your head is swimming with all of the information that’s been coming out of Washington D.C. these past few weeks. Thankfully, on April 6th, Treasury […]
Q&A 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 […]
Beware Coronavirus-related Scams
The IRS has issued a warning to taxpayers about calls and email phishing attempts dealing with COVID-19 or the Coronavirus. Main concerns center around identity theft and tax-related fraud. Taxpayers […]
The new COVID-19 law provides businesses with more relief
On March 27, President Trump signed into law another coronavirus (COVID-19) law, which provides extensive relief for businesses and employers. Here are some of the tax-related provisions in the Coronavirus […]
Ohio Extends Tax Filing Deadline
Ohio Tax Commissioner Jeff McClain confirmed that Ohio will follow the lead of the federal government. Ohio is extending the deadline to file and pay state income tax to July […]
Ohio Legislature OK’s State Tax Filing Extension
The Ohio Legislature unanimously voted to give Ohio Tax Commissioner, Jeff McClain, authority to extend the state tax filing deadline to July 15th. This would keep the Ohio tax deadline […]
