In this week’s Wednesday episode (April 22, 2020) of the Town of Plymouth’s “COVID-19 Daily Update,” Heather Cozby provided additional clarification as to who qualifies for the economic stimulus payments, whether they are considered taxable, and whether any portion of these payments will need to be refunded should personal circumstances change in the year ahead. She [...]
In this week’s Wednesday episode (April 15, 2020) of the Town of Plymouth’s “COVID-19 Daily Update,” Heather Cozby clarified what actions non-filers and Social Security recipients need to take to receive their Economic Stimulus Payments and further explained how the SBA Economic Disaster Loan grant portion is being calculated. She also made an important point about [...]
In this week's Wednesday episode (April 8, 2020) of the Town of Plymouth's "COVID-19 Daily Update," Heather Cozby addressed the gap between the government programs being set up and the current lack of cash flow. She discussed the status of the Economic Stimulus Payments and Payroll Protection Program, as well as unemployment benefits and Economic Disaster [...]
We wanted to alert you to a beneficial change in the tax rules for many improvements to interior parts of nonresidential buildings ("qualified improvement property" or "QIP"). You may recall that following the 2017 Tax Cuts and Jobs Act ("TCJA"), any QIP placed in service after Dec. 31, 2017 was not considered to be eligible for [...]
Along with the paramount health concerns right now, you may be wondering about some of the recent tax changes meant to help everyone coping with the coronavirus fallout. I want to update you on the tax-related provisions in the Coronavirus Aid, Relief, and Economic Security (CARES) Act, Congress' gigantic economic stimulus package that the President signed [...]
