Ekmanian Tax & Accounting

it's finally "April 15th"!!!!

PPP Updates extending all the dates for forgiveness procedures

An update - BUT stay tuned, changes may happen before this is finished......

Take note - the unemployment income is taxable on the Federal tax return

You may want to check with your tax adviser - but those of you collecting unemployment checks ......you might want to elect to have Federal income tax withheld on your checks...... The tax law hasn't been changed or adjusted and it says that, in most cases, unemployment income is taxable (But not for California). SO....to avoid a potential BIG surprise on your 2020 tax return, plan accordingly.

More updates on the 2020 2nd Federal tax estimate due date....

Updates- stay tuned....

More on the stimulus payments.....

Some of your questions answered

Can we get an extension on the 2020 2nd estimate payment?????

California does what the IRS needs to do.....no mention of whether or not IRAs need to be funded by 4/15...