by ABIP | Apr 5, 2020 | COVID-19, News
Tax Breaks Help Small and Medium-sized Employers Small and medium-sized employers can begin taking advantage of two new refundable payroll tax credits, designed to immediately and fully reimburse them, dollar-for-dollar, for the cost of providing coronavirus-related...
by ABIP | Apr 4, 2020 | COVID-19, News
CARES Act: Information for Individual Taxpayers The Coronavirus Aid, Relief, and Economic Security (CARES) Act, the stimulus bill that was signed into law on March 27, 2020, contains legislation to stabilize the economy during the coronavirus pandemic. These measures...
by ABIP | Apr 3, 2020 | COVID-19, News
Tax Returns & Estimated Taxes Now Due July 15 Due to the coronavirus pandemic, the federal income tax filing due date is automatically extended from April 15, 2020, to July 15, 2020. Taxpayers can also defer federal income tax payments due on April 15, 2020, to...
by ABIP | Mar 23, 2020 | COVID-19
H.R. 6201: Families First Coronavirus Response Act This legislation has now passed both the House and the Senate and has been enacted into law by the President. The effective date is 15 days after enactment: April 2, 2020. Executive Summary This legislation applies...
by ABIP | Mar 19, 2020 | COVID-19
Employers Can Immediately Provide Tax-Free Qualified Disaster Payments to Employees in Connection With COVID-19 Employers are scrambling to find ways to help their employees who are impacted by the novel coronavirus (COVID-19). Help is available. Now that the COVID-19...
by ABIP | Mar 19, 2020 | COVID-19
Federal Aid Package Helps Individuals Affected By COVID-19 The Families First Coronavirus Response Act (H.R. 6201), became law on March 18, 2020. The Act guarantees free testing for the novel coronavirus (COVID-19), establishes emergency paid sick leave, expands...
by ABIP | Mar 18, 2020 | COVID-19
Tax Payments Have Been Deferred As the COVID-19 situation continues to change on a daily basis, abip would like to take some time to inform clients of the relief that the federal government has passed thus far. Below are some common questions we have been receiving...
by ABIP | Mar 2, 2020 | News
What to Do If You Are Missing Important Tax Forms If you are ready to file your taxes but are missing important tax forms here’s what you should do: Form W-2 You should receive a Form W-2, Wage and Tax Statement, from each of your employers for use in preparing...
by ABIP | Mar 1, 2020 | News
Are Social Security Benefits Taxable? Social Security benefits include monthly retirement, survivor, and disability benefits; they do not include Supplemental Security Income (SSI) payments, which are not taxable. Generally, you pay federal income taxes on your Social...
by ABIP | Feb 29, 2020 | News
Worker Classification: Employee vs. Contractor If you hire someone for a long-term, full-time project or a series of projects that are likely to last for an extended period, you must pay special attention to the difference between independent contractors and...
