Heckler & O’Keefe’s Response to COVID-19

Apr 1, 2020 | COVID-19, News

During this uncertain time, nothing is more critical to Heckler & O’Keefe, CPAs, PC than the health and safety of our clients and employees.  While most of our staff are home working remotely, we are considered an essential service under the Executive Order, Tom...

Tax Relief Provided by the CARES Act

Apr 1, 2020 | COVID-19, News, Taxes

Individual Provisions Rebate checksRecovery rebates for individuals. To help individuals stay afloat during this time of economic uncertainty, the government will send up to $1,200 payments to eligible taxpayers and $2,400 for married couples filing joints returns. An...

Qualified Opportunity Zone Investment Regulations Finalized

Feb 1, 2020 | Taxes

Proposed qualified opportunity zone regulations issued on October 29, 2018 ( REG-115420-18) and May 1, 2019 ( REG-120186-18) under Code Sec. 1400Z-2 have been finalized with modifications. The regulations. which were issued in a 550 page document, are comprehensive....

Trump Signs Bipartisan Year-End Government Spending, Tax Package

Feb 1, 2020 | Taxes

On December 20, President Donald Trump signed the bipartisan, year-end government spending and tax package, just hours before federal funding was set to expire. Trump’s signature on the over 2,000-page spending package avoided a government shutdown. Year-End Tax...

National Taxpayer Advocate Releases Annual Report to Congress

Feb 1, 2020 | Taxes

Bridget Roberts, the Acting National Taxpayer Advocate, released her 2019 Annual Report to Congress. The report discusses the key challenges facing the IRS regarding the implementation of the Taxpayer First Act, inadequate taxpayer service and limited funding of the...

SALT Cap Not Unconstitutionally Coercive

Nov 1, 2019 | Taxes

A district court has dismissed a lawsuit filed by four states’ against the federal government, ruling that the $10,000 state and local taxes (SALT) federal deduction cap is not unconstitutionally coercive. In 2018, New York, Connecticut, Maryland, and New Jersey filed...