Attorney Action Club: IRS COVID-19 Relief Beyond The $1200 Check

 

 

IRS COVID-19 Relief Beyond The $1200 Check was Presented by James Creech

Everyone has heard that the IRS is going to be sending out $1200 checks for many taxpayers. This program will take a look at the details of who does and doesn’t get the stimulus money as well as other lesser known IRS administered programs that are designed to either get cash into taxpayer hands or help taxpayers keep more cash in their own pockets.

This progtam will focus on the individuals, small businesses and self employed taxpayers that make up our firms and our client’s firms so that you can point them in the right direction to obtain aid.

Some of the relief that was covered include:

  • The IRS’s suspension of filing deadlines,
  • Advanced refundable tax credits (ie cash in your pockets) for payroll taxes,
  • Sick leave, and child care during the COVID crisis,
  • Increased use of net operating loss (NOL’s),
  • Grace period for taxpayers who have existing installment agreements with the IRS,
  • Home office deduction and what expenses might be deductible during this shelter in place period.

James Creech is a tax practitioner based in San Francisco. He represents taxpayers with both tax planning and fighting the IRS and state agencies through audits, litigation, and collection matters. He is a proud member of SFLN.

Published in AAC, COVID19, Video Replays