Coronavirus Relief Economic Impact Payments; The Internal Revenue Service (IRS) and the U.S. Treasury Department announced today that distribution of economic impact payments will begin in the next three weeks. Along with the initiation of economic impact payments will be…

IRS People First Initiative for Coronavirus COVID-19 Relief; The Internal Revenue Service (IRS) is taking robust initiatives to help its taxpayers, employees as well as partners during the coronavirus outbreak nationwide. In the same regard, the IRS unveiled the new People…

Starting a business is not an easy task for sure, and we all agree with it. Besides kicking off the business is not only hectic work but also making sure the legitimacy factor also fulfill before getting into any trouble….

Bookkeeping and accounting are the core assets of a developing or developed economy. Bookkeeping and accounting are two functions that are extremely important for every business organization. When the economy is hit with a crisis, then accounting and bookkeeping could only...

So how much do you know about the trust fund? or just trust. The trust fund is exactly the same as the word trust. The term’s meaning actually fits the trust. A trust fund is a three-way relationship between three…

Families First Coronavirus Response Act (FFCRA); The Treasury Department, Internal Revenue Service (IRS) and the U.S. Department of Labor (Labor) announced plan for the implementation of paid-leaves for employees & tax credits for small and mid-sized businesses in the United…

The coronavirus (COVID-19) pandemic alert; As CoronaVirus has hit the United States and presenting challenges for the taxpayers to file their income tax returns to the IRS. The federal income tax filing due date is extended from April 15, 2020,…

Tax Date Due To Coronavirus? The Internal Revenue Service (IRS) and Treasury Department made an announcement about the extension of tax filing deadline in the United States due to the coronavirus (COVID-19) pandemic. Now, the new extended deadline for filing…

IRS Announces Waivers; The Internal Revenue Service (IRS) made an announcement about the particular waivers for Offer in Compromise application in the United States, as per the final regulations, the Offer in Compromise application fee is increased to $205 that…

IRS Allows High-Deductible Health Plans; The Internal Revenue Service (IRS) confirms that high-deductible health plans (HDHPs) can pay for 2019 Novel Coronavirus (COVID-19)-related testing and treatment, without risking their status. The agency further states that those individuals who have a…