A qualified charitable distribution (QCD) is a direct transfer of funds from your IRA custodian, payable to a qualified charity. QCDs can be counted toward satisfying required minimum distributions (RMDs) for taxpayers over age 70 1/2.
As cryptocurrency seems to be gaining in popularity, there are a couple of issues we believe investors should know about before getting involved with one or more of the proliferating number of cryptocurrencies, such as Bitcoin, Ethereum, and Litecoin
State governments provide services largely by using taxes paid by their residents and others doing business ion the state. Take a look at some of the comparisons across contiguous states.
Tax proposals are flowing out of Washington, D.C. almost weekly. The most recent proposals (at the time of drafting this article) were those included in a Department of the Treasury May 2021 document titled “General Explanations of the Administration’s Fiscal Year 2022 Revenue Proposals.”
Act Immediately to Get a Paycheck Protection Program Loan.
The deadline for Paycheck Protection Program (PPP) loans is March 31, 2021, and many lenders will quit accepting applications as early as next week to process what is in their pipeline. For these reasons, it is imperative that any business or organization that qualifies for a PPP loan, first or second draw, apply immediately.
Federal and most state individual income tax returns for 2020 are due to be filed by Thursday, April 15, 2021.
When Paycheck Protection Program (PPP) loans were initially introduced, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) made clear that loan proceeds would not be treated as gross income on federal income tax returns.
This year the IRS has opened up its Identity Protection PIN system to all tax filers who wish to opt-in; being a victim of identity theft is no longer a requirement.
The consequences of being a victim of a cyber-attack can be devastating to all sizes and types of organizations, as we saw with the recent cybersecurity breach involving SolarWinds software.
Kentucky is one of a handful of states where local taxing jurisdictions, such as cities, counties, and school districts, impose income taxes. Kentucky law permits employees to file for a refund from a local jurisdiction if their employer withheld taxes for that jurisdiction while they worked in another jurisdiction, either within or outside Kentucky.