HSA and IRA Funding Deadlines

March 28, 2020

Funding deadlines have been extended to match filing deadlines.

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IRS Filing and Payment Deadlines Questions and Answers

March 28, 2020

https://www.irs.gov/newsroom/filing-and-payment-deadlines-questions-and-answers

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CT Extends SOME Business Tax Return Filing Date

March 25, 2020

From the CT DOR Website: Effective Immediately DRS Extends Filing Deadline for Certain Annual State Business Tax Returns (Hartford, CT) – The Connecticut Department of Revenue Services (DRS) is using their statutory authority to grant an automatic extension of Connecticut filing deadlines for certain annual tax returns in order to support businesses during the COVID-19 […]

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CT Personal Filing Update

March 25, 2020

From the CT DRS Website: Department of Revenue Services extends filing and payment deadlines for personal income tax returns to July 15, 2020 At the direction of Governor Ned Lamont, the Connecticut Department of Revenue Services (DRS) is extending the filing and payment deadline for personal income tax returns 90 days, to July 15, 2020. […]

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Small Businesses and Paid Coronavirus Leave

March 24, 2020

There are new credits available to small businesses intended to cover the costs of paying for leave to employees who either have coronavirus or have to care for a child. They are geared to the larger end of “small business” and, in fact, businesses with less than 50 employees are not obligated to provide leave. […]

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Mileage Logs

March 21, 2020

The IRS says you have to have “receipts” for your expenses. Your Mileage Log is your “receipt” for the 2-Miles-Makes-a-Dollar (to avoid decimal points) Standard Mileage or “Exact” auto expense deduction. It used to be a real PITA. Today there are cell phone apps that do it for you with virtually no effort. When you […]

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From CT’s Website

March 21, 2020

SBA assistance: On March 16, the U.S. Small Business Administration approved Governor Lamont’s request to begin offering disaster-relief loans to Connecticut small businesses and nonprofits. Companies in the state can now apply for loans of up to $2 million through a special page on the SBA website. SBA also has more valuable information for businesses. ________________________________________________ Follow the link […]

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Paid Leave and Tax Credits

March 21, 2020

From the IRS: Coronavirus: Paid Leave for Workers and Tax Credits for Small and Midsize Businesses The U.S. Treasury Department, IRS, and the U.S. Department of Labor announced today that small and midsize 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 […]

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CT Extends Personal Return (CT 1040) Deadline

March 21, 2020

From the CT DRS website: Department of Revenue Services extends filing and payment deadlines for personal income tax returns to July 15, 2020 At the direction of Governor Ned Lamont, the Connecticut Department of Revenue Services (DRS) is extending the filing and payment deadline for personal income tax returns 90 days, to July 15, 2020. […]

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Filing Deadline Moved to July 15th

March 20, 2020

Mnuchin said the April 15th tax filing deadline will be extended to July 15th. As always, we have to wait for official word and clarification but given that payments have been deferred until that date, it made sense to move the deadline as well. Keep tuned. I’ll post as I learn more.

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