Tax Season Update (3/17/2021): Change in Individual Tax Filing Deadline, Nontaxable Unemployment Income, and Small Business Grant Deadlines

Change in Tax Filing Deadline The IRS is expected to change the individual filing date to the middle of May. We anticipate this will result in a 17-May filing deadline for individuals filing 1040s. We are awaiting additional guidance as to whether this change will impact filing deadlines for Corporations and/or nonprofits. We will continue…

Paycheck Protection Program 2.0

Coronavirus Relief 1/1/2021 Update: Second Stimulus Checks, Extension of Unemployment Supplements, and PPP2 Loans (Forgivable) Applications Available Soon!

The Consolidated Appropriation Act was signed into law on December 27. The Act includes provisions for a second round of PPP loans, 2021 stimulus checks, extended unemployment benefits, and addresses the taxation of forgiven PPP loans (first draw). PPP2: Requirements for 1st Draw and 2nd Draw Applicants The Act included provisions for a 2nd round…

Update: IRS Formally Extends April 15th Tax Filing Deadline to July 15th

Tax Filing Deadline Update: Late this evening, the Department of Treasury added the extension of the tax filing deadline to its Coronavirus relief efforts. The department had already extended the tax payment deadline for both corporations and individual taxpayers from April 15th to July 15th (see notice here ). Tonight’s action also extends the federal income tax return filing deadline from…

Extension of the IRS’s Individual Income Tax Payment Deadline & Resources for Small Business Owners and Non-Profits

Tax Filing Deadline Update: Late yesterday, the Department of Treasury extended the tax payment for both corporations and individual taxpayers from April 15th to July 15th (see notice here ). Please note, the announcement did not extend the tax return filing deadline nor does the announcement directly address any resulting penalties.We have joined many other accounting firms and the…

ATS’s Response to Novel Coronavirus

Good Afternoon ATS Clients,The global COVID-19 (coronavirus) outbreak continues to be a concern for many people. We understand the uncertainty, and we can assure you that we’re continuing to monitor developments daily.Your personal safety is our top priority. As a result, effective immediately, we are taking the following precautions:1) Clients will have the option to…