COVID-19
Have You Received a “Balance Due” Notice from the IRS?
You filed your tax return on time and paid the taxes due, yet you received a notice from the IRS. Why? By: Luci Roseman, CPA, Manager Due to the COVID-19…
Read MoreReminder: Unemployment compensation is taxable
Have tax withheld now to avoid a tax-time surprise. The Internal Revenue Service reminds people receiving unemployment compensation, many for the first time, that, by law, this compensation is taxable.…
Read MoreRollover Relief for Required Minimum Distribution
Time running out to reverse 2020 RMD and save on taxes The Coronavirus pandemic resulted in a change in the Required Minimum Distribution (RMD) for 2020. The CARES Act, the coronavirus relief…
Read MoreUnderstanding and Applying the Home Office Deduction
By: Tina Truby, CPA, Supervisor Check out our corresponding video Recently, a client contacted us with a question. “I’m a partner in a design business and we’ve not had the…
Read MoreUnderstanding and Applying the Home Office Deduction
By: Tina Truby, CPA, Supervisor NOTE: THIS POST WAS UPDATED JAN-2024. Check out our corresponding video Recently, a client contacted us with a question. “I’m a partner in a design…
Read MoreWhat You Need to Know About the CARES Act – Part 2
Below is a summary of key points covered by the Coronavirus Aid, Relief and Economic Security (CARES) Act On March 27, 2020, President Trump signed into law the Coronavirus Aid,…
Read MoreWhat You Need to Know About the CARES Act
Letter to clients regarding the Coronavirus Aid, Relief, and Economic Security (CARES) Act, signed into law on March 27, 2020. ** CLICK HERE to read a SUMMARY of the key…
Read MoreCOVID 19 Update: Digital Submission of Your Tax Documents
We strongly encourage you to submit your documents via one of our secure file submission platforms, TaxCaddy or Sharefile. TaxCaddy: TaxCaddy makes it easier than ever to gather your 1040…
Read MoreCOVID 19 Update: Tax Filing/Payment Deadlines (Updated 4/10/20)
The Federal government has extended tax season, extension payments, and the 1st and 2nd quarter 2020 estimated tax payments to July 15, 2020 for Individual 1040, Fiduciary 1041, Corporate 1120,…
Read MoreCOVID 19 Update: Our Office
CPA firms in Delaware have been designated as “essential businesses”. As a result, Cover & Rossiter is open for business, although most of our staff is working remotely. While we…
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