When someone uses your stolen personal information — your Social Security number, for example — to file a tax return claiming a fraudulent refund, that's considered tax-related identity theft. How do you know if you've been a victim?
Unless you're part of a financial department, you may have received little or no formal training in how to develop a budget forecast, track expenses or make midyear adjustments. You've been handed a spreadsheet or finance report, and you're expected to know what to do with it.
Have you decided that it's time to consider estate planning and contemplate when and how to distribute your assets to your heirs? Realistically, you imagine that this process will entail a series of trade-offs to prevent emotion-laden family problems.
You may have been one of the businesses that pounced on the hastily assembled Paycheck Protection Program in hopes of getting a loan. Many businesses succeeded, but some did not, and it's not always clear why. If you didn't, here are some clues why.
One of the most significant features of the SBA's Paycheck Protection Program is the forgiveness provision—the loans become grants for companies that use the loans to maintain their workforce levels. Companies that have met the stringent requirements need to fill out a form and follow instructions carefully—they include several measures to reduce compliance burdens and simplify the process for borrowers, including:
Like most new government programs, the PPP has been followed by a stream of clarifying guidance from the relevant federal agencies. Whether you have such loans already or are seeking to get them, you should be aware of the details.
The IRS has granted relief for 125 cafeteria plans, health flexible spending arrangements and dependent care assistance programs.
Health consequences aside, pandemics can wreak havoc on businesses, upending supply chains and employment models around the world. To help curb the spread of disease, public health officials may recommend that employees work from home, be placed on furlough or work fewer hours. In addition, the U.S. Department of Labor may provide guidance on how U.S. employers should handle wages during the pandemic.
The National Partnership for Women and Families says that "at some point, nearly everyone will need to take time away from work to deal with a serious personal or family health condition, or to bond with a new child." Yet only 19% of U.S. employees receive paid family leave through their employers.
Newsletter articles are posted every 2 weeks.
If you would like to have our e-newsletter delivered directly to your inbox, please sign up. Your information is confidential; you can unsubscribe at any time. Subscribe.