The IRS provided relief Tuesday to individuals and businesses whose tax residence might be affected by cross-border travel disruptions arising from the COVID-19 crisis, such as canceled flights, border closings, or shelter-in-place orders. The relief eases some potential consequences that a prolonged stay in a country may have on the determination of where an individual […]

The entrance to a Macy’s department store. Jeffrey Greenberg | Universal Images Group | Getty Images Macy’s is taking extreme measures to avoid dire outcomes like bankruptcy, and will try to raise billions in debt to weather the pandemic crisis, according to people familiar with the matter. The country’s largest department store is looking at raising […]

Talkspace co-founders Roni and Oren Frank Talkspace Oren Frank’s business is exploding. But he’s not celebrating. Frank is the CEO of Talkspace, a company he co-founded eight years ago with his wife, Roni, to provide therapy over the internet for people in remote areas and those who can’t afford traditional psychotherapy. Traffic has doubled since […]

Talkspace co-founders Roni and Oren Frank Talkspace Oren Frank’s business is exploding. But he’s not celebrating. Frank is the CEO of Talkspace, a company he co-founded eight years ago with his wife, Roni, to provide therapy over the internet for people in remote areas and those who can’t afford traditional psychotherapy. Traffic has doubled since […]

President Donald Trump on Tuesday wished North Korean leader Kim Jong Un “good luck” following reports suggesting Kim could be incapacitated following a cardiovascular surgery. “These are reports that came out, and we don’t know,” Trump said at a White House press briefing when asked what he knew about Kim’s condition. “I’ve had a very […]

Several issues involving the new employee retention credit are in need of clarity and guidance, the AICPA told Treasury and the IRS on Friday. In a letter from Christopher Hesse, CPA, chair of the AICPA Tax Executive Committee, to David Kautter, the assistant secretary for tax policy at Treasury, and IRS Commissioner Charles Rettig, the […]

The IRS announced that people who receive Social Security retirement, survivor, or disability benefits (SSDI) or Railroad Retirement benefits and did not file a tax return in 2018 or 2019 and who have dependent children who qualify for the additional $500 payments must enter the children’s identifying information on the IRS’s Non-Filers: Enter Payment Info […]

The IRS announced two procedures for taxpayers who normally do not file a federal tax return to file returns to receive the economic impact payments (Rev. Proc. 2020-28). Under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, P.L. 116-136, eligible individuals will receive an economic impact payment of up to $1,200 for individuals or […]

  We’re all participating in a major event at the moment. Indulge me, as I liken it to competing in the Olympics…   The planning… Usually the Olympics takes years to plan and pull together successfully. This event has been pulled together in a matter of weeks. With information changing nearly on a daily basis. […]

Today the HMRC online portal opened for claiming the grant against 80% of a furloughed employees wages, the employers’ NI and the employers’ pension contribution. From the reaction of employers you would think that today was the only day a claim could be made!  Perhaps they think the Government is going to run out of […]