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U.S. House Passes Bill to Provide Greater Flexibility for PPP Borrowers; Senate to Act Next
Chantel Ray Finch
May 12 at 3:19 PM ·
Are you a business owner that applied for the Paycheck Protection Program? Listen in on how to maximize your forgiveness!
Listen to the Real Life Leadership podcast here: https://podcasts.apple.com/us/podcast/53-how-to-maximize-your-ppp-forgiveness/id1451228903?i=1000474372326
Have you been denied VEC Unemployment benefits? Go here for next steps to claim benefits under PUA - Pandemic Unemployment Assistance provided under the CARES Act of 2020.
https://www.vec.virginia.gov/html/pua.html
VEC.VIRGINIA.GOV
4th Annual Spring Career & Resource Fair
Use this IRS tool to make sure your direct deposit information is correct for stimulus payments.
IRS
April 14 at 12:01 PM ·
IRS will launch a tool that allows taxpayers who filed taxes without banking information to provide it to the IRS to receive an Economic Impact Payment faster. If you previously chose direct deposit, you don’t need to take any action. www.irs.gov/eip #COVIDreliefIRS
IRS
April 10 at 4:57 PM ·
IRS and The U.S. Department of the Treasury launch new tool to help people who normally don’t file taxes to register for Economic Impact Payments www.irs.gov/eip #COVIDreliefIRS
Self-supporting college students may qualify for an Economic Impact Payment
Any eligible self-supporting college student who doesn't need to file a tax return should register using the Non-Filers tool by 3:00 p.m. ET November 21 to receive an Economic Impact Payment before the end of this year.
Generally, a self-supporting student who registers will receive a $1,200 payment if they are single or $2,400 if married and file a joint return and the student or their spouse cannot be claimed as a dependent. If they have dependent children, they may also get an additional $500 for each qualifying child.
Only self-supporting students who are not required to file a tax return should use the Non-Filers tool. Dependent students do not qualify. This means any student who is claimed as a dependent by their parents or someone else cannot get a payment.
Recent college graduates may not have received an Economic Impact Payment because they were claimed as a dependent by their parents or someone else. If their situation changes, these graduates may be eligible for the Recovery Rebate Credit when they file their 2020 tax return in 2021.
People who don't normally file a tax return may be able to register for an Economic Impact Payment quickly using the Non-Filers tool on IRS.gov.
Students who need to or want to file a regular tax return should not use the Non-Filers tool. This includes any student who had federal income tax withheld from their pay and wants to file a tax return to claim a refund. Working students who have a summer or part-time job should consider filing a tax return so they can receive a potential federal tax refund.
Anyone using the Non-Filers tool can speed up the arrival of their payment by choosing to receive it by direct deposit. Those not choosing this option will get a check.
People can track the status of their payment using the Get My Payment tool starting two weeks after they register.
Anyone who misses the November 21 deadline will have to wait until next year to claim the Recovery Rebate Credit, if they’re eligible, when they file their 2020 federal income tax return.
https://go.usa.gov/xGzB5
IRS.GOV
IRS extends Economic Impact Payment registration deadline for non-filers to Nov. 21 | Internal Revenue Service
IRS.GOV
Some taxpayers may need to make estimated tax payments | Internal Revenue Service
IRS.GOV
IRS Statement about Economic Impact Payments | Internal Revenue Service
On Call Accountant updated their phone number.
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