Let’s talk retirement planning. How should retirement accounts be handled after the big changes seen in the CARES Act? The Act extended the deadline for 2019 IRA contributions, waived the required minimum distributions for 2020, and allows the use of retirement funds of up to $100,000 penalty free. 2019 IRA Contributions Deadline Extended In an… Read more

The Treasury Department is granting safe harbor to large and public companies that voluntarily return stimulus funds by this Thursday, May 7 under new guidance regarding the PPP’s “necessity” certification. A number of companies that received loans in the past few weeks through the Paycheck Protection Program (PPP) are returning the money, as the Small Business… Read more

Office Updates While BPW is categorized as an essential business due to the importance of tax filing and compliance services, our physical office is closed, but we are all successfully working hard remotely to protect you and our staff.  We are in full swing into the tax season and encourage businesses and individuals to stay… Read more

The CARES Act provides some big wins for individual taxpayers who are in need of an economic lifeline amid the COVID-19 pandemic. Recovery Rebate for Individual Taxpayers The CARES Act includes a provision offering a one-time “2020 recovery rebate” of $1,200 ($2,400 for married couples), plus an additional $500 per child for eligible taxpayers. U.S…. Read more

The Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law on Friday, March 27, making it the largest emergency stimulus package in the history of the United States. The CARES Act comes in response to the coronavirus outbreak as it takes hold around the globe. Its mammoth $2 trillion economic stimulus brings… Read more