TAX PRO PLUS LA

Government Keeping Your Refund?

We all look forward to receiving our tax refunds, but what if you were expecting a refund and it never arrived? It may be because you have outstanding federal or state debts—and not just tax-related debts. The Treasury Department’s Bureau of the Fiscal Service (BFS) issues federal tax refunds, and Congress authorizes BFS to reduce your refund through its Treasury Offset Program (TOP) to pay:

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Loan Application Period for the Paycheck Protection Program Extended

If you missed the opportunity to apply for a Paycheck Protection Program (PPP) loan before the program expired at the end of June, Congress extended the application period for a PPP loan through August 8, 2020. Although time is short, you still have time to apply.

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7 Tips To Keep Your Business Afloat During Covid-19

If you are a small business owner impacted by COVID-19, watch this video for what you will need to take a pragmatic view of what has happened and the steps you should take to bounce back.

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If You are Receiving Medicaid Waiver Payments, You Should Read This

Medicaid waiver payments are a type of payment from a state to an individual to take care of another individual who would otherwise be institutionalized, saving the government the cost of the more expensive institutional care.

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IRS Provides Additional 2020 RMD Rollover Relief

The CARES Act waived required minimum distributions (RMDs) from IRAs and employer plans such as 401(k)s for 2020. However, the CARES Act was not passed until March 27, 2020 and after many individuals had already taken their RMD for 2020. Some of these retirees would not have taken the distributions if they would have known about the waiver.

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