by ABIP | Apr 5, 2021 | COVID-19, News, Newsletter
Economic Impact Payments: Round Three On March 12, following the American Rescue Plan Act’s approval and signing, the IRS began sending out the third round of Economic Impact Payments. Most payments were sent out via direct deposit, but approximately 150,000 checks...
by ABIP | Apr 3, 2021 | COVID-19, News, Newsletter
Coronavirus-Related Distributions and Loans The Coronavirus, Aid, Relief, and Economic Security (CARES) Act made it easier to access savings in IRAs and workplace retirement plans for those affected by the coronavirus. This relief provided favorable tax treatment for...
by ABIP | Apr 2, 2021 | News, Newsletter, Taxes
Q & A: The $10,200 Unemployment Tax Break Generally, unemployment compensation received under the unemployment compensation laws of the United States or a state is considered taxable income and must be reported on your federal tax return. However, a new tax break...
by ABIP | Apr 1, 2021 | COVID-19, News, Newsletter
PPP Loan Deadline Extended Through May 31 The Paycheck Protection Program Extension Act of 2021 was signed into law on March 31, 2021, extending the deadline to apply for a loan by an extra 60 days, from March 31 to May 31, 2021. The law also gives the Small Business...
