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Now that tax season 2.0 is officially over, it is time to get those extensions finished. If you have a business, your returns are due September 15. Personal returns are due October 15. Start gathering your information so that we have ample time to complete your work.
Do you want to know how much a of a stimulus payment you should get? Click on the link below.
https://www.surelync.com/CustomerSupportWeb20/stimulus_calculator.aspx
SURELYNC.COM
TaxLync Stimulus Check Calculator
Want to know how much you are going to get from the IRS Stimulus?
Click on the link below.
https://www.surelync.com/CustomerSupportWeb20/stimulus_calculator.aspx
SURELYNC.COM
TaxLync Stimulus Check Calculator
The IRS has postponed the deadline for depositing to your IRA and SEP until July 15.
If you think you are getting a refund you should file now and not wait until July deadline.
Government stimulus check and direct deposits have started. Please keep and eye out for your checks and direct deposit. I hope everyone has a safe and happy new year.
There were lots of important changes that will have impacts on every type of business:
Changes made to the 1st round of PPP, including tax deductions and streamlining the forgiveness process.
PPP Round 2!
An extra $300 per week in unemployment benefits has been extended for 11 weeks.
$600 stimulus payments
The next round of PPP is almost available. In order to qualify, you have to have a 25% decrease in your gross income in any quarter of 2020 as compared to 2019. If you qualify, you can obtain a potentially forgivable loan equal to 2 1/2 months of qualified payroll expenses (3 1/2 months for restaurants).
The Internal Revenue Service plans to open tax-filing season on Feb. 12, although it is making its Free File program available starting Friday.
The tax season normally begins in late January, but the ongoing COVID-19 pandemic, the distribution of the latest round of Economic Impact Payments, a backlog of work from last year, and changes in the tax laws seem to be delaying tax season this year. Nevertheless, the IRS announced earlier this week that all tax forms and instructions are ready and that last-minute changes to the tax laws have been included in all the tax forms and instructions.
Beware, this is a scam. Do NOT reply to this, it is not from the IRS.
The deadline to file your 2020 Personal Income Tax returns has been extended until May 17, 2021. However, the IRS has NOT extended the due date for your estimated taxes which are due April 15. Do not delay, get your returns done as soon as you can.
