A new law signed by President Trump on March 27 provides a variety of tax and financial relief measures to help Americans during the coronavirus (COVID-19) pandemic. This article explains some of the tax relief for individuals in the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Individual Cash Payments
DWC has created a resources page to help businesses and employers navigate coronavirus news and updates regarding tax deadlines and payment extensions, federal and state relief provisions, and disaster loan assistance. We continue to update the page as information becomes available. Click HERE or find on our website under the
Scammers are already using fraudulent methods to attain your personal information with the CARES relief payment issuance to individuals. Because many of these stimulus payments are to be issued by direct deposit, scammers are “phishing” by phone calls, text messages, or emails to pretend to verify your banking information. The
With Colorado Governor Polis issuing a Stay at Home Order for “non-essential” businesses, we wanted to let you know that all of our offices are honoring the Order. Even though our industry does not fall into the “non-essential” category, the health and safety of our staff, families, clients, and community
The coronavirus (COVID-19) outbreak — officially a pandemic as of March 11 — has prompted global health concerns. But you also may be worried about how it will affect your business and its financial statements for 2019 and beyond. Close up on financial reporting The duration and full effects of the COVID-19
The Treasury Department and the Internal Revenue Service issued IRS Notice 2020-18, providing guidance on both filing and payment relief. Here is the latest: TAX DEADLINES EXTENDED The new Notice postpones both the filing and payment deadline to July 15, 2020, for income tax returns and income tax payments normally
Our number one priority is the safety of our staff, families, clients, and community. DWC Leadership is closely monitoring national, state, and local recommendations and response to the new coronavirus (COVID-19) to ensure we have the most updated and correct information, and to do our part in keeping our clients,
As our nation and other countries respond to the new coronavirus (COVID-19) fraudsters are finding ways to play on fear and uncertainty. It is important to remain vigilant regarding protecting your personal information. Beware of a current scam whereby criminals are leveraging the COVID-19 epidemic to spread malware through a
Finding the right person to head up your company’s finance and accounting department can be challenging in today’s tight labor market. While it may be tempting to simply promote an existing employee, external candidates may offer fresh ideas and skills that take your financial reporting to the next level. Here
Do you conduct your business as a sole proprietorship or as a wholly owned limited liability company (LLC)? If so, you’re subject to both income tax and self-employment tax. There may be a way to cut your tax bill by using an S corporation. Self-employment tax basics The self-employment tax
