May 2021 - Heckler and O Keefe CPAS

IRS Extends Federal Tax Filing and Payment Deadlines for Certain Taxpayers Affected by COVID-19

May 28, 2021 | COVID-19, IRS, Taxes

The IRS has postponed the federal tax filing and payment deadlines, and associated interest, penalties, and additions to tax, for certain taxpayers who have been adversely affected by the Coronavirus Disease 2019 (COVID-19) pandemic. For individual taxpayers, the...

Guidance on Temporary Full Deduction for Business Meals

May 28, 2021 | Taxes

The IRS has provided guidance related to the temporary 100-percent deduction for business meals provided by a restaurant. The Taxpayer Certainty and Disaster Tax Relief Act of 2020 ( P.L. 116-260) temporarily increased the deduction from 50 percent to 100 percent for...

COBRA Premium Assistance Guidance

May 28, 2021 | Healthcare

The U.S. Department of Labor has published a new webpage with guidance implementing the Continuation of Health Coverage premium assistance provisions of the American Rescue Plan (ARP), to provide full COBRA premium assistance to certain individuals who experienced a...