A&S Accounting & Tax Services LLC

ECONOMIC IMPACT PAYMENTS WHAT YOU NEED TO KNOW FOR INDIVIDUALS $1,200*... Eligible individuals with adjusted gross income up to $75,000 will automatically receive the full $1,200 payment. $2,400* FOR MARRIED COUPLES Eligible married couples filing a joint return with adjusted gross income up to $150,000 will automatically receive the full $2,400 payment. Parents also get $500 for each eligible child under 17. $500* PER CHILD AUTOMATICPAYMENTS Most taxpayers don’t need to take any extra steps to receive a payment. The IRS will use information from a taxpayer's 2019 tax return if they’ve filed it, or their 2018 tax return, if they haven’t. *Income and other limits apply. See more

NSA Update #26 - IRS Remote Work Trouble The Government Executive has reported a snag in the IRS telework program. While thousands of IRS employees have been directed to telework, many of them are not equipped to do so. According to this article, the IRS and the National Treasury Employees Union are making efforts to provide employees with the tools necessary to work from home, but the process is slow. The author surmises that the number of IRS employees who are unable to wor...k from home numbers in the thousands. "According to Tony Reardon, president of the National Treasury Employees Union, just 44% of the IRS workforce is currently telework eligible and required to work. That would mean most of the remaining 41,000 employees are currently being paid not to work, though some are still reporting to offices that have remained open despite the evacuation order," author Eric Katz wrote. Assuming that even a small fraction of those 41,000 employees are unable to perform their job functions, it reduces the IRS' ability to serve tax professionals and the general public.

Applications are available for: Employee Retention Credit (Application Enrollment OPEN) Paycheck Protection Program (Application Submission Starts April 3, 2020) Economic Injury Disaster Loans and Loan Advance (Application Enrollment OPEN) ...Continue reading

Any person with a federal income tax filing or payment due on April 15 is eligible for IRS relief in response to the ongoing #COVID19 emergency. Find details at www.irs.gov/coronavirus #COVIDreliefIRS

Given the #COVID19 outbreak, IRS is suspending compliance programs temporarily to ease the burden on people facing tax issues. IRS is postponing payments related to Installment Agreements and Offers in Compromise and limiting other enforcement actions. See www.irs.gov/coronavirus