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Information for Individuals

 

May 29, 2020 - Don’t throw away that junk mail — it might be your economic impact payment card!

Economic Impact Payments being sent by prepaid debit cards, arrive in plain envelopes from “Money Network Cardholder Services” and the card looks like the image below:

 

 

 

 

 

 

 

If you happen to misplace or accidentally throw away your stimulus debit card, call Money Network Cardholder Services customer service at 800-240-8100 to report your lost or stolen card immediately.

For more details, see either the IRS’ website of related FAQs or the Money Network Cardholder website.

  • The IRS has opened the website for your Economic Impact Payment. CLICK HERE to go to the official (and only) IRS.gov website to:

    • Check your payment status

    • Confirm your payment type: direct deposit or check

    • Enter your bank account information for direct deposit if we don't have your direct deposit information and we haven't sent your payment yet

  • CLICK HERE for information regarding:

    • Changes to the deadline for both filing your 2019 tax return and for making tax payments

    • Changes related to Installment Agreements and Offers in Compromise (OIC) with the IRS

Information for Small Businesses

 
  • CLICK HERE for relevant guidance on forgiveness of the SBA PPP Loan

 

  • CLICK HERE for information regarding paid sick leave and family medical sick leave

  • CLICK HERE for information regarding

    • SBA loans, programs and debt relief

    • Payroll tax credits and deferments

Local Resources

 

Other Useful Links

 

News

May 11, 2020 - An Economic Impact Payment made to someone who died, before the Payment was received, should be returned to the IRS.  Return the entire Payment unless the Payment was made to joint filers and one spouse had not died before receipt of the Payment, in which case, you only need to return the portion of the Payment made on account of the decedent. This amount will be $1,200 unless adjusted gross income exceeded $150,000. 

Click here for the detailed steps in how to return a Payment.

April 29, 2020 - The $2.2 trillion Coronavirus Aid, Relief, and Economic Security (CARES) Act delivers good news to individuals and businesses, including valuable tax-relief measures. Some of that tax relief is retroactive. These provisions can affect 2018 and 2019 returns that have already been filed. One retroactive provision can, in some cases, go all the way back to 2013. Some taxpayers that file amended returns may receive a tax refund from prior years. 

Here's the story of four retroactive CARES Act provisions that can potentially benefit you or your business entity after amended prior-year returns have been prepared and filed.

April 24, 2020 - Small businesses have lost billions of dollars during the novel coronavirus (COVID-19) pandemic. Those that had the foresight to purchase business interruption insurance to protect themselves from a disaster-related closing may want to file a claim as soon as possible. Unfortunately, it is likely that those claims will be denied — at least until the courts and lawmakers can address the issue. In the meantime, your business can take certain proactive measures to establish its rights as the legal landscape evolves. Here's the story.

April 15, 2020 - The coronavirus (COVID-19) pandemic has shut down many businesses, causing widespread furloughs and layoffs. Fortunately, employers that keep workers on their payrolls may be eligible for a new refundable 50% employee retention federal income tax credit. Is your organization eligible for this tax break? And, if so, how much will it help? Here's the story.

April 10, 2020 - The Treasury Department and the Internal Revenue Service today launched a new web tool allowing quick registration for Economic Impact Payments, for those who don’t normally file a tax return. The IRS reminds taxpayers that Economic Impact Payments will be distributed automatically to most people starting next week. Eligible taxpayers who filed tax returns for 2019 or 2018 will receive the payments automatically. Automatic payments will also go in the near future to those receiving Social Security retirement or disability benefits and Railroad Retirement benefits.

April 8, 2020 - The Coronavirus Aid, Relief, and Economic Security (CARES) Act provides financial relief for people who are experiencing hardship due to the coronavirus (COVID-19) pandemic. One relief measure allows withdrawals of up to $100,000 from IRAs and qualified retirement plan accounts, with no tax hit, if those amounts are re-contributed within three years. CLICK HERE for the rules, along with news of the temporary suspension of the retirement account required minimum distribution rules.

President Trump has signed legislation to infuse the U.S. economy with roughly $2 trillion in financial relief during the coronavirus (COVID-19) pandemic. CLICK HERE to see the highlights of financial relief provisions of the Coronavirus Aid, Relief, and Economic Security (CARES) Act.

 
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111 E. 27th St. Bryan, TX 77803

Ph. (979) 268-1350

Fax: (979) 268-1560

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