The coronavirus relief bill passed by Congress includes many tax provisions, including the extension of various expiring provisions, extensions and expansions of certain earlier pandemic tax relief provisions, and much more.

Original Article Source Credits:  Tax Practice Advisor  , https://www.taxpracticeadvisor.com/

Article Written By:  NA

Original Article Posted on:  Dec 7th, 2020

Link to Original Article:  https://www.taxpracticeadvisor.com/business-income-taxes/news/21165460/aicpa-and-business-groups-urge-congress-to-pass-ppp-expense-forgiveness

Original Article Source Credits:   CNBC , https://www.cnbc.com/

Article Written By:  Darla Mercado

Original Article Posted on:   NOV 18 2020

Link to Original Article:  https://www.cnbc.com/2020/11/18/thisthe-irs-is-blessing-workaround-that-allows-business-owners-to-deduct-state-and-local-taxes.html

Original Article Source Credits:   IRS , https://www.irs.gov/

Article Written By:  NA

Original Article Posted on:  November 4, 2020

Link to Original Article:  https://www.irs.gov/newsroom/irs-makes-it-easier-to-set-up-payment-agreements-offers-other-relief-to-taxpayers-struggling-with-tax-debts

On August 28, 2020 the Treasury Department and the Internal Revenue Service released guidance on the payroll tax deferral that was ordered by President Donald Trump in a presidential memorandum on August 8th. 

Whether you’re a business, corporation, or individual (above the age of eighteen), paying taxes to the government is mandatory. To ensure your tax filing process is efficient, you must practice sound bookkeeping. However, if you lack expertise in bookkeeping and tax filing, it’s essential to enlist a professional to handle these processes.

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