New and Improved Employee Retention Credit
Whether you were already taking advantage of the Employee Retention Credit or did not qualify, the passage of the Consolidated Appropriations Act of 2021 has brought this payroll tax credit back into the conversation. The following is intended to give you an overview...
Key Tax Takeaways from COVID-19 Relief Bill
On December 27, 2020, the President signed the Consolidated Appropriations Act of 2021, in an effort to provide COVID-19 relief. While additional time is still needed to review one of the largest pieces of legislation in US history, the following are some of the key...
Information Returns: Federal and Oregon Filing Requirements
The due date for 2020 Forms W-2, W-3, 1099-MISC, and 1099-NEC with data in box 1 for non-employee compensation is February 1, 2021, and applies to paper and electronically filed returns. Information returns are due on a calendar year basis for certain payments...
COVID-19: Remote Working; Oregon Revenue Apportionment, and Nexus Issue
The COVID-19 outbreak changed our daily routine, social life, interactions with people, commute, communication, technology, shopping, and most importantly, our working environment. Earlier this year, with the spread of COVID-19, many employers and employees have...
Paycheck Protection Program (PPP) Flexibility Act of 2020
With the application deadline for the PPP loan behind us, borrowers are now tasked with maximizing forgiveness in most cases, as well as applying for forgiveness. While the initial rules were somewhat rigid, the Paycheck Protection Program Flexibility Act of 2020,...
CARES Act Update: Employee Retention Credit, Retirement Plan Relief, Qualified Leasehold Improvements, Paycheck Protection Program (PPP) Loan, and Roth IRA Conversion
During April of this year, our firm communicated with you regarding the relief available under the CARES Act. The IRS has issued additional guidance and here are some selected updates. These updates are overviews and do not include all details or provisions of the...
COVID-19 Impact on Nonprofits
Physical Controls Cash Receipts - your office may still be receiving checks via mail. Having two individuals present is still the best practice; however this may not be feasible with COVID-19 Coronavirus restrictions. Using technology can assist when having more than...
COVID-19/Coronavirus: Extensions, SBA Loans, CARES Act and More…
With many of us scrambling to figure out how we are planning to adapt and make it through these challenging days, McDonald Jacobs wants to do what we can to help provide resources for you and your business. Tax Return Filing Deadlines Fortunately, the IRS has pushed...
Oregon Corporate Activity Tax (CAT) Update
The Oregon Corporate Activity Tax (CAT) is effective on January 1, 2020. We have previously communicated regarding some of the basics of the CAT and those communications can be found on our website under the Blogs & News tab. Oregon is continuing to release...
Information Returns: Federal and Oregon Filing Requirements
The due date for 2019 Forms W-2, W-3, and 1099-MISC with data in box 7 for non-employee compensation is January 31, 2020, and applies to paper and electronically filed returns. Information returns are due on a calendar year basis for certain payments made in the...
