by Hare CPAs Tax Team | Jun 4, 2020 | COVID-19
The economic impact of the COVID-19 has been enormous. Some estimates suggest over 30 million Americans have filed for unemployment benefits as a result of this economic impact. Normally when applying for unemployment, you would be eligible to receive a certain...
by Paula Kennedy, EA | May 28, 2020 | COVID-19
The short answer: No. The stimulus check payment or economic impact payment, as the IRS calls it — is technically a refundable tax credit for 2020. As explained by the IRS: “No, the payment is not income and taxpayers will not owe tax on it. The payment will not...
by Brian Hare, CPA, CGMA | Mar 14, 2019 | Tax
Reprinted from IRS Newswire Issue # IR-2019-42 WASHINGTON — The Internal Revenue Service today (3/14/19) warned taxpayers to avoid improperly claiming various business tax credits, a common scam used by unscrupulous tax preparers. Two credits often targeted for abuse...
