The coronavirus (COVID-19) pandemic has affected many Americans’ finances. Here are some answers to questions you may have right now. My employer closed the office and I’m working from home. Can I deduct any of the related expenses? Unfortunately, no. If you are an employee who telecommutes, there are strict rules that govern whether you […]

In the midst of the coronavirus (COVID-19) pandemic, Americans are focusing on their health and financial well-being. To help with the impact facing many people, the government has provided a range of relief. Here are some new announcements made by the IRS. More deadlines extended As you probably know, the IRS postponed the due dates […]

On Tuesday, March 17, 2020, the United States Department of Treasury and the Internal Revenue Service announced that they will be providing special payment relief to individuals and businesses in response to the COVID-19 Outbreak. It is important to note that the filing deadline for tax returns remains April 15, 2020 and has not been […]

If you made large monetary gifts to your children, grandchildren, or other heirs, it is important that you determine whether you are required to file a 2019 gift tax return. Who must file? Generally, you must file a gift tax return for 2019 if, during the tax year, you made gifts: That exceeded the $15,000-per-recipient […]