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Important Crypto & Virtual Currency Update

Feb 23, 2021 | , , ,

𝐓𝐡𝐞 𝐈𝐑𝐒 𝐡𝐚𝐬 𝐦𝐨𝐯𝐞𝐝 𝐭𝐡𝐞 𝐯𝐢𝐫𝐭𝐮𝐚𝐥 𝐜𝐮𝐫𝐫𝐞𝐧𝐜𝐲 𝐪𝐮𝐞𝐬𝐭𝐢𝐨𝐧 from Schedule 1 of the 2019 Form 1040 to the first page of the 2020 Form 1040 and Form 1040-SR. The question asks, "At any time during 2020, did you receive, sell, send, exchange, or otherwise acquire any financial...

Economic Recovery Rebate Credit

Feb 2, 2021 | , ,

The Economic Recovery Rebate Credit has caused many people to question their filing status. The amount of the credit as well as qualifying for the credit (payment) depends a lot on filing status and income. Dependents attending college have heard that they can get the...

PPP and PPP2 Updates & Highlights

Jan 14, 2021 | ,

PPP updates include: PPP borrowers can set their PPP loan’s covered period to be any length between 8 and 24 weeks to best meet their business needs; PPP loans will cover additional expenses, including operations expenditures, property damage costs, supplier costs,...

2020 Tax Organizer Avaliable

Jan 10, 2021 | , ,

Did we complete your 2019 tax return? If we completed your prior-year return we can provide you with a custom tax organizer that includes last year's information so that you can compare it to this year's information just send an email to info@RMSAccounting.com. Be...

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