Required minimum distributions that otherwise would have to be made in 2020 from defined contribution plans and IRAs are waived. This includes distributions that would have been required by April 1, 2020, due to the account owner’s having turned age 70 1/2 in 2019.
At the end of 2020, Congress passed, and President Trump signed, a new law that provides for additional relief related to the coronavirus (COVID-19) pandemic.
Depreciation Deductions Among the many changes made by the CARES Act, the one which may have the most impact is the correction of a technical error
Effect of CARES Act Rebate on Your 2020 Tax Return Under the CARES Act, individuals with income under a certain level are entitled to a recovery rebate tax
The Department of Treasury and Internal Revenue Service issued guidance (August 28, 2020) implementing the Presidential Memorandum issued on August 8, 2020, allowing employers to defer withholding
Newsom and Associates PA
12740 Atlantic Blvd
Suite 7
Jacksonville, FL 32225
Hours of Operation
Mon-Fri: 8:00am-5:00pm
Sat-Sun: By Appointment
Tel: (904) 320-0572
Fax: (904) 320-0576
