The IRS announced Wednesday that it is extending the tax filing deadline for individuals from Apr. 15, 2021, to May 17, 2021. This is an important development for taxpayers due to the many tax law changes that have recently transpired including an exclusion from tax...
A long-awaited and welcome piece of the recent stimulus package is directly pointed at the restaurant and hospitality industries. Billions of dollars in federal grant money will be available to privately owned hospitality businesses through the $1.9 trillion COVID...
The American Rescue Plan Act of 2021, passed by the House on Wednesday and signed into law Thursday by President Joe Biden, will bring a flood of much-needed funds into the state of Ohio – and Cleveland, in particular. The $1.9 trillion COVID relief bill allocates...
Due to reductions in personnel being physically located at IRS Service Centers, review of tax filings and the associated responses and information normally provided by the IRS are severely delayed. This is certainly true for any taxpayer who filed an estate tax return...
Despite the unpredictability of last year, 2021 may be the best opportunity to finalize or revise your estate plan. Estate planning involves outlining your wishes for your assets and responsibilities in case of incapacity or death. This plan involves anything you own...
A rise in unemployment fraud in Ohio and other states is the subject of increasing media attention and concern. But what exactly is happening, and what should you do if an unemployment claim was fraudulently filed under your employee’s, or your own, name? After...
In an interview last week on CNBC, U.S. Treasury Secretary Janet Yellen said that tax increases would be needed to pay for at least part of a large infrastructure, climate and education investment package that President Joe Biden plans to introduce later this year....
Earlier this year, Congress passed the Corporate Transparency Act (CTA), which will require certain small businesses to identify and disclose information about their owners. While the purpose of the law is to help stop money laundering (by inhibiting the abuse of...
At the height of the COVID-19 crisis, there was a significant victory for individuals with Medicare as their source of health insurance. In a favorable decision, Judge Michael P. Shea, a federal judge in Connecticut, allowed hospital patients to appeal when an...
Tax season has officially arrived, and thanks to the pandemic, this one is shaping up to be like none before it. Typically, the filing period starts in late January. This year, however, the IRS announced it was delaying the start of the 2021 tax filing season to Feb....