Sandra Spencer, CPA, CFF, CGMA

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https://www.irs.gov//millions-of-taxpayers-will-receive-th

The IRS provided the following updates to its Get My Payment" FAQs: When will the Get My Payment tool give me the status of my EIP 2? The IRS will relaunch the Get My Payment tool soon. When the tool is relaunched, taxpayers will be able to use the Get My Payment tool to check the status of both their EIP 1 and EIP 2. As more information becomes available, the IRS will provide updates. I filed jointly with my spouse. Can either spouse use the Get My Payment tool? ...Continue reading

More tax relief coming

No gym, no problem. Now that tax season is finally over, the staff participated in an energetic social distancing activity. Thanks to Stone's Marina Kayak Club for access to some beautiful vistas and a 4 hour kayak journey.

June 24, 2020 Interest on individual 2019 refunds reflected on returns filed by July 15, 2020 will generally be paid from April 15, 2020 until the date of the refund. Interest payments may be received separately from the refund. By law, the interest rate on both overpayment and underpayment of tax is adjusted quarterly. The interest rate for the second quarter, ending on June 30, 2020, is 5% per year, compounded daily. The interest rate for the third quarter, ending September 30, 2020, is 3% per year, compounded daily.

https://www.irs.gov//keep-economic-impact-payment-notice-w

Changes made to the PPP loan

https://money.usnews.com//what-to-know-about-stimulus-chec

Should you force employees back to work or allow them to continue to collect unemployment

https://cnycentral.com//irs-to-launch-get-my-payment-web-a

https://www.cnbc.com//the-stimulus-payment-calculator-tell

https://www.irs.gov//filing-and-payment-deadlines-question

Please see our company policy about Covid-19 at our www.sandraspencercpa.com website. To protect our staff and clients, we are asking all clients to email, mail or drop off their tax return information, we are no longer scheduling appointments.

https://www.irs.gov//gathering-records-before-preparing-ta