AHP Articles - Andrews Hooper Pavlik PLC

Created: Tuesday, August 18, 2020

Deferring Payroll Tax Obligations in Light of President Trump’s Executive Actions

On Saturday, August 8, 2020, the President issued four executive actions to provide relief from the economic strains caused by COVID-19. Of these four directives, one was an order and the other three were memorandums. This article focuses on the deferment of taxes but gives a brief overview of the other three directives as well.

Created: Thursday, August 6, 2020

Deadline Approaching to Roll Back Required Minimum Distributions

In June, the IRS announced (Notice 2020-51 (PDF)) that anyone who has already taken a required minimum distribution (RMD) at any point in 2020 can roll those funds back into a retirement account following the CARES Act RMD waiver for 2020.

Created: Tuesday, July 7, 2020

Midyear Tax Planning Ideas for Individuals

The extended July 15 deadline for filing your 2019 federal income tax return is behind us. Now it's time to think about your current federal tax situation. Tax planning is especially complicated for 2020.

Created: Monday, June 22, 2020

Updates on Funding for Businesses Suffering as a Result of the Coronavirus Outbreak: Main Street Lending and Paycheck Protection Programs

The Main Street Lending Program has been launched and the Paycheck Protection Program has a new, streamlined loan forgiveness application. This article contains a summary on both programs.

Created: Wednesday, June 17, 2020

Good Records Are the Key to Tax Deductions and Trouble-Free IRS Audits

Certain types of expenses, such as automobile, travel, meals and office-at-home expenses, require special attention because they’re subject to special recordkeeping requirements or limitations on deductibility.

Created: Friday, June 5, 2020

Senate Approves Changes for Paycheck Protection Program

On Wednesday, June 3, 2020, the U.S. Senate passed proposed changes to the Paycheck Protection Program (PPP), expanding the time allotted for loan recipients to spend their funds and still qualify for loan forgiveness. The bill went on to President Trump and was signed into law on Friday. This article highlights the main points of the new law.

Created: Thursday, June 4, 2020

As Summer Approaches, So are Tax Deadlines

Heading into June, many of us are excited about warmer weather and our economy opening back up. For the majority of us, it is not the time of year that we are typically concerned with taxes.

Created: Wednesday, May 27, 2020

IRS Releases 2021 Amounts for Health Savings Accounts

The IRS recently released the 2021 inflation-adjusted amounts for Health Savings Accounts (HSAs).

Created: Tuesday, May 5, 2020

PPP Loan Forgiveness Application and New Frequently Asked Questions Released

The sample Paycheck Protection Program (PPP) loan forgiveness application for loan forgiveness under the PPP was made available late last week. While the sample application does not answer all the questions we have, it does provide some clarity. This article provides an overview.

Created: Tuesday, May 5, 2020

Plan for Employee Safety as Employees Return to Work

Chances are, employers don't need the force of law to make them care about the health of their employees, especially during the novel coronavirus (COVID-19) pandemic. But it's still important to know what the federal workplace safety agency — the Occupational Safety and Health Administration (OSHA) — has to say about employees returning to their jobs with a measure of confidence in their own safety.