No, it isn’t an April Fools prank. There are ways small businesses can receive cash in a short period of time. There are a number of loans and other programs available, however, keep in mind that businesses may not apply for different loans to cover…
Tag: IRS
SBA Loan Applications & Other News!
Everyone has questions about the Coronavirus Aid, Relief and Economic Security (CARES) Act that was passed by Congress and signed by the President last Friday. It is a voluminous bill of over 800 pages and provides $2 trillion designed to provide relief for American workers,…
Newsbreak for March 26, 2020
On Wednesday evening, the Senate passed a $2 trillion stimulus package which is designed to provide relief for American workers, businesses, hospitals and government which are sorely in need during the coronavirus pandemic. It was approved unanimously by a 96-0 vote, and now must be…
IRS Announces People First Initiative
The IRS has unveiled the new People First Initiative to help everyone coping with the challenges of COVID-19. Relief is provided on a variety of issues ranging from easing payment guidelines to postponing compliance actions. Specifics about the implementation will be shared soon. For more…
Garibaldi Group Newsbreak For March 24, 2020
We are continuing to monitor events, and while it is ever evolving, we hope you are finding it useful. We had hoped to be able to bring you news of a new Federal Stimulus Bill today which is sorely needed to provide financial assistance to…
Garibaldi Group Newsbreak For March 19, 2020
As previously discussed, we are continuing to keep you abreast of a fluid situation that changes by the minute. The IRS will allow Taxpayers to defer payments for their 2019 tax returns until July 15. This is subject to certain caps: Individuals can defer payments…
Protect Yourself From Being Scammed!
Every year around tax time, it seems as if scammers are finding new and creative ways of separating consumers from their hard-earned monies. We get a few steps ahead, and they come up with something new. Ultimately though, the most important thing to do is…
Opting Out Of The New Partnership Audit Regime
The Bipartisan Budget Act of 2015 (BBA) changed how partnerships are audited. Proposed IRS rules for partnership audits under the law apply to taxable years beginning after December 31, 2017, but some partnerships can choose to opt out. If your business is organized as a…