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Submitted by Richard Allen, EA, AFSP The IRS just issued IR-2020-183 (see attached) on August 18, 2020. The IRS announced that they are sending interest payments of 2019 1040 return Continue reading “Millions to Receive Interest on 1040 Refunds”…
Month: September 2020
Will County CARES Act Small Business Grant Program
Submitted by Richard Allen, EA, AFSP One of our members received this information about the Will County Small Business Assistance Grant Program. The application process is not too complicated but Continue reading “Will County CARES Act Small Business Grant Program”…
Update on IRS and IDOR Processing Problems
Submitted by Richard Allen We have been receiving information about IRS and IL Department of Revenue processing problems caused by COVID-19 processing delays. IRS Processing Problems. We previously reported about Continue reading “Update on IRS and IDOR Processing Problems”…
Draft Form 1040 for 2020 Returns Released by IRS
Submitted by Joel Shabsin, CPA On August 21st the IRS released a draft version of the 1040 for the upcoming tax season. Although most of the form is similar to Continue reading “Draft Form 1040 for 2020 Returns Released by IRS”…
Payroll Tax Withholding
Submitted by Joel Shabsin, CPA On August 8, 2020, President Trump issued a memorandum directing the Secretary of the Treasury to use his authority to defer certain payroll tax obligations Continue reading “Payroll Tax Withholding”…
