by David Merrifield | Federal Tax, News
At the end of 2019, the SECURE Act (Setting Every Community Up for Retirement Enhancement Act) was signed into law, modifying required minimum distribution (RMD) rules for inherited IRAs and retirement accounts. Under the SECURE Act, inherited IRAs and...
by David Merrifield | News, US Tax Returns
When the CARES Act was signed into law, it created the Paycheck Protection Program (PPP), which is a new loan designed to help small businesses pay employee wages and other critical expenses. Proceeds from this loan can be forgiven if certain criteria are met....
by David Merrifield | News, US Tax Returns
In conjunction with the CARES Act, the IRS has released form 7200, Advance Payment of Employer Credits Due to COVID-19, which allows eligible businesses to claim an advance of refundable tax credits used to help cover the cost of keeping employees on payroll, even if...
by David Merrifield | News, US Tax Returns
Many businesses are expected to see significant revenue losses due to COVID-19 and many individuals and business owners are overwhelmed with the choices of what they should do. In addition to considering Disaster Loan Assistance (EIDL) through the SBA and the...
by David Merrifield | News, US Tax Returns
For Americans living abroad, the rules for US taxes can be overwhelming and confusing and if you fail to file correctly, it can result in significant penalties or even legal repercussions. Nonetheless, when strategically prepared and filed correctly, there are huge...
by David Merrifield | News, US Tax Returns
This new tool will help overseas Americans who wouldn’t normally file a tax return to register for Economic Impact Payments outlined by the CARES Act The IRS has announced that it has developed a free online tool which will allow Americans who don’t usually file...
