EXECUTIVE SUMMARY The omnibus spending and coronavirus relief legislation enacted in December clarified that deductions are allowed for otherwise deductible expenses paid with the proceeds of a Paycheck Protection Program (PPP) loan that is forgiven. A refundable tax credit in the amount of $600 per eligible family member was enacted. Advance payments of the credit [...]
The IRS on Friday announced that it will start accepting and processing 2020 tax returns on Friday, Feb. 12. This is later than in most previous years, when tax season has started in January. The IRS says the delay is due to the extra time it needs for programming and testing its systems following the [...]
The City of Myrtle Beach has passed an emergency ordinance requiring face masks in public, which will go into effect just in time for the busy July 4 holiday weekend. Myrtle Beach approves requiring face masks in public places The council approved the measure Thursday morning. It triggers at 12 a.m. Friday morning, the day [...]
If you went to college, there’s a good chance you still have student loans to tackle. It takes Americans with student debt an average of 21 years to completely pay off their education, and the average student loan payment is $393 a month. With that kind of weight on your wallet, you might wonder whether you should [...]
There has long been a confusing debate around gender diversity in executive teams. While some reports have shown that having more women on corporate boards improves company performance including sales, profits and firm value, academic research has found little or no effect on a range of performance metrics. A new study led by the Wo+Men’s Leadership [...]
The Internal Revenue Service is looking for ways to scour social media platforms like Facebook, Instagram, and Twitter in its ongoing quest to catch tax cheats. That’s according to a request for information issued December 18 by the IRS’s National Office of Procurement. The mining of social media data by the agency has been suspected in the past, [...]