Wefferling & Company CPAs LLC

05/14/2022

06/23/2021

A new IRS online portal lets taxpayers unenroll from receiving advance payments of the 2021 child tax credit.

04/08/2021

The IRS issued guidance on the temporary rule that allows a 100% deduction for eligible restaurant meals in 2021 and 2022.

04/05/2021

The IRS is strongly urging taxpayers to not file amended returns related to the new provisions in ARPA or take other unnecessary steps at this time.

03/30/2021

The IRS issued a notice providing more details and clarification of its previously announced postponement of the April 15 tax deadline for individuals. The notice extends the date for making 2020 IRA contributions; however, it does not extend the date for estimated tax payments.

03/11/2021

The $1.9 trillion coronavirus relief bill that passed Congress contains many tax provisions, including changes to the child tax credit and many other credits, making certain unemployment benefits tax-free in 2020, and a $1,400 recovery rebate credit for many individuals.

01/08/2021

The US SBA and Treasury released guidance for the revived and reconstituted Paycheck Protection Program. The guidance came in the form of two interim final rules, including one that details the guidelines for new PPP loans to businesses that previously received PPP funding.

01/04/2021

Stimulus payments are just part of it. Also: more unemployment, PPP, EIDL loans, Employee Retention Credit, EIC, CTC, eviction moratorium, and more.

12/31/2020

The second round of Coronavirus stimulus payments, $600 for most taxpayers, have started being processed, the U.S. Treasury Department has announced. People could receive them as early as Wednesday, Dec. 30, 2020.

12/29/2020

The Senate Small Business and Entrepreneurship Committee, chaired by Marco Rubio, held a hearing Thursday on the Paycheck Protection Program (PPP), which is credited with keeping businesses afloat during the darkest days of the coronavirus pandemic’s first wave in the spring.

12/23/2020

The $900 billion COVID-19 relief package passed Monday provides $284 billion for a revised Paycheck Protection Program (PPP) and clarifies that businesses can claim tax deductions for expenses paid for with forgiven PPP loans.