Federal & State Tax Insight & Resources

Rea & Associates COVID Tax Filing & Payment Resource Center

We understand that you may have questions related to federal tax payments, as well as state tax payments, and want to be a resource to you as you work through these changes. Below are some links that can help you make sense of the new timelines. Additionally, you are always welcome to reach out to your Rea & Associates tax advisor. Or, if you are unsure who to reach out to but have questions you are looking for answers to, please fill out our online contact us form.

CAA Outlines Tax Treatment, Other Details

The CARES Act & PPP Task Force recently published an overview of the new Consolidated Appropriations Act of 221. In addition to the financial relief outlined in the bill, there is also some clarification with regard to how the stimulus dollars will be taxed - not to mention valuable tax credits now available to businesses.

If you would like to learn more about these tax credits, including the Employment Retention credit, the Families First Coronavirus Response credit, and others, click here.

Webinars 

Rea's tax professionals have put together a variety of key resources and have presented them to hundreds of organizations, complete with comprehensive webinars and Q&A sessions. This presentation is available to view at no charge.

For full access to these webinars, please click on the picture below. The top webinar is the most current piece of content and includes a variety of regulation updates for you to consider. When you access each webinar, you will also gain access to the slideshow presentations, the full transcripts, and a large variety of essential resources.

• PPP Loan Forgiveness Application Process, Necessity Form & Tax Treatment - Recorded on Dec. 8, 2020
• New Tax-Related Provisions For Increased Cash Flow - Recorded April 15, 2020
• State & Local Tax: First Wave Response & Second Wave Predictions - Recorded April 14, 2020

Tax Announcements From Rea & Associates 

[FAQ] COVID-19-Related Tax Credits For Required Paid Leave Provided By Small And Midsize Businesses

Payroll Tax Credits, Rapid Refunds Available For Employers

IRS Guidance In Response To COVID

The IRS has developed a tool that will allow for quick registration to process Economic Impact Payments for those who don't have a filing requirement. Non-Filers: Enter Payment Info Here | Additional info

According to the IRS website, the deadlines for filing taxes and making any federal income tax payments have been delayed until July 15, 2020. For additional assistance, the IRS has created a special online resource to assist taxpayers and businesses affected by coronavirus. To access the resource, click here.

Contact Us

We are always available to serve you as you continue to navigate through this difficult time. Please contact us if you have any tax-related questions.