IRS Extends Tax Deadline for Nonprofits

Recently the IRS issued Notice 2020-23, giving not-for-profit organizations relief on tax returns and tax payments originally due between April 1, 2020 and July 15, 2020.
Notice 2020-23 provides relief for filers of Form 990, Form 990-EZ, Form 990-N, Form 990-T and Form 990-PF. The returns, along with any tax payments, are now automatically due July 15, 2020. Learn more.

Emergency Economic Relief Update – SBA Loan Programs Summary under CARES

This is an UPDATE to our Emergency Economic Relief alert. With multiple options available, take time to consider which program suits your Company’s needs best. More details will be coming out in the coming week so it’s important to study the information before jumping into a program. But once you decide, take quick action as time is of the essence.

Emergency Economic Relief from the SBA

This past week the Covid-19 pandemic has been a rapidly changing reality and our mind is focused on you, your families and businesses, and the impact this is having as it unfolds. Washington state has been hit hard and your business may already be seeing a financial impact.

COVID-19: Working with Us and the Extended Tax Deadline

The events of the last few weeks certainly are unprecedented and like many of you, we are closely monitoring the impact COVID-19 will continue to have on businesses and individuals. As a firm, we have taken a proactive approach. Here are the top priorities and policies at Shannon & Associates for COVID19.

Alert: Year-end Reminder – Winter 2019

Year-end Reminder for S-Corporation Owners. The IRS requires special reporting of fringe benefits for S-Corporation owners who own more than 2% of the business. Certain family members of the S-Corporation…

Oregon Enacts New Corp Gross Receipts Tax

Oregon Governor Kate Brown has signed House Bill (HB) 3427, imposing a new modified gross receipts tax effective for tax years beginning on or after January 1, 2020…

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