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IRS announces two new online tools to help families manage Child Tax Credit payments…

Clients & friends, today the IRS announced two new online tools families can use to help manage their Child Tax Credit payments.

There is now a portal to unenroll from advance payments on the child tax credit. Also note that for those who are married, both spouses will need to unenroll.

For all the details, please click the link below! And as always, feel free to reach out to your CPA or tax professional at H&S with any questions!

Click here to read more!

Small businesses have until May 31 to apply for a forgivable loan

On Tuesday, President Biden signed into law a two-month extension of the Paycheck Protection Program (PPP) one day before the coronavirus relief fund was poised to expire, giving small businesses until May 31 to apply for a forgivable loan. Click here for more details.

IRS to recalculate taxes on unemployment benefits…

Dear Clients & Friends, the IRS has announced that they will start sending out the refunds in May for recalculated unemployment returns that have been filed. Click here to read more.

As always, please feel free to reach out to your H&S tax professional with any questions!

SBA defers repayment of disaster loans…

The Small Business Administration pushed back the deferment period for all its disaster loans, including the COVID-19 Economic Injury Disaster Loan (EIDL) program, until 2022.

Click here for all the details!