The Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law on Friday, March 27, making it the largest emergency stimulus package in the history of the United States. The CARES Act comes in response to the coronavirus … Continue reading
Category Archives: General Tax
5 April 2020
The CARES Act: An Overview for Businesses
4 April 2020
The CARES Act: An Overview for Individuals
The CARES Act unlocks critical relief for individual taxpayers who are in need of an economic lifeline amid the COVID-19 pandemic. Recovery Rebate for Individual Taxpayers The CARES Act includes a provision offering a one-time “2020 recovery rebate” of … Continue reading
27 March 2020
Resources to Help Navigate the Impacts of COVID-19
Erock Tax has compiled a list of resources for you and your business that we hope you will find helpful as we all navigate through the impacts and changes transpiring from the COVID-19 outbreak. We’ve included information on the federal … Continue reading
21 March 2020
IRS Extends Tax Filing & Paying Deadline to July 15
The IRS recently announced that they extended the federal tax filing deadline to July 15, 2020, three months after the normal April 15, 2020 deadline, to give all individuals and businesses an extra 90-day extension to file their returns. The … Continue reading
28 February 2020
A Snapshot of the 2020 Democratic Tax and Wealth Plans
We’re up, Massachusetts! This week MA voters are beginning to cast early ballots for the presidential primary. The big day, however, is Tuesday, March 3, where voters head to the polls to make their selection for a presidential candidate. But, … Continue reading
24 February 2020
Top 5 Real Estate Tax and Accounting Mistakes
Even some of the savviest real estate brokers can get trapped in the most common accounting mistakes. There’s a similar thread of accounting mistakes woven throughout the real estate industry that creates challenges and complications come tax time. Many of … Continue reading
10 February 2020
The SECURE Act: Key Takeaways and Strategies to Consider
Over the past few years, we have seen some of the greatest shifts in tax legislation. And just as we are finally digesting the unprecedented tax reform changes of 2018, we now turn our attention to one of the most … Continue reading
10 January 2020
IRS Establishes No Clawback Rule on Gifts and Estates
In a recent announcement, the IRS presented the highly-anticipated final regulations on gift and estate tax exclusion amounts made between 2018-2025, confirming there will be no clawback after the exemption amount sunsets. The IRS and the Treasury Department have established … Continue reading
10 January 2020
Top 10 Tax Deductions for Small Businesses
As we gear up for tax season and another round of the tax-reform era, here’s what small businesses need to know about tracking and deducting their eligible business expenses. Everything adds up, so be sure to organize and plan accordingly; … Continue reading
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