HelferBell, Here Are Your Articles for Wednesday, July 29, 2020
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IR-2020-162, July 17, 2020
WASHINGTON — The Internal Revenue Service today reminds seniors and retirees that they are not required to take money out of their IRAs and workplace retirement plans this year.
The Coronavirus Aid, Relief, and Economic Security Act, or CARES Act, waives required minimum distributions during 2020 for IRAs and retirement plans, including beneficiaries with inherited accounts. This waiver includes RMDs for individuals who turned age 70 ½ in 2019 and took their first RMD in 2020. Roth IRAs do not require withdrawals until after the death of the owner.
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WASHINGTON — The Internal Revenue Service issued a temporary regulation and a proposed regulation to reconcile advance payments of refundable employment tax credits and recapture the benefit of these credits when necessary.
The regulations authorize the assessment of erroneous refunds of the credits paid under both the Families First Coronavirus Response Act (Families First Act) and Coronavirus Aid, Relief and Economic Security Act (CARES Act).
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Many businesses that have been severely impacted by coronavirus (COVID-19) will qualify for two new employer tax credits – the Credit for Sick and Family Leave and the Employee Retention Credit.
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From playing games with tax returns to fiddling with the company's books, fraud is a widespread and complicated problem. You need an expert to address fraud issues. Click through for an intro to fraud and how CPAs can help.
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The idea of launching a new business in the midst of the COVID-19 pandemic may seem like a radical thing to do. In the long run, however, it may help to keep your business viable well into the future. Click through for some compelling advice.
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Cybersecurity has always ranked high on the list of business priorities, but the current shift to online services and remote work has forced companies to address the human factor. Click through to read how technology alone may not solve your security issues.
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HelferBell, LLC
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Washington, DC 20036
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