TRS CPA GROUP

Taxes

President Trump Signs Coronavirus Relief Bill – Employer Tax Credits

20.03.2020
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President Trump Signs Coronavirus Relief Bill that Contains Employer Tax Credits

Today, President Trump signed the “Families First Coronavirus Response Act” (the “Act”) to provide emergency supplemental appropriations and support Americans during the COVID-19 pandemic. Parts of the Act provide for emergency family and medical leave benefits, emergency paid sick leave benefits, and employer and self-employed tax credits and exclusion from employer FICA tax with respect to the payment of those benefits.

Employer tax credits.  The Act provides tax credits to employers to cover wages paid to employees while they are taking time […]

Closing Until Further Notice – But Still Working!

20.03.2020
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March 20, 2020

To our clients and friends,

We are all experiencing challenges related to the COVID-19 public health emergency. TRS CPA Group would like to make you aware of the steps we are taking to insure the health and safety of our clients and employees.

As of today, March 20, 2020 at 5pm we will be closing the physical doors to our office. This has been a difficult decision, but we feel it is necessary. However, this change will not impact the quality of our service in any way. TRS CPA Group will be fully functional during this […]

Federal and State Tax Deadline Changes and Updates

18.03.2020
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As of this morning, March 18, the following are the reports for filing deadlines and extension changes for the federal government as well as Maryland and Delaware:

Federal

Individual filings must be completed by April 15 but payment of taxes can be made until July 5 without penalty.  Note that there is confusion on if the WhiteHouse plans to extend the filing deadline and clarification is expected.
Sources: WhiteHouse Briefing and CPA Advisor

Maryland

Individual Income Tax Deadline extended to July 15.
Source: News Release_ Maryland Income Tax Deadline Extended to July 15, 2020 […]

TRSCPA Group & COVID19 Virus Announcement

14.03.2020
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As concerns regarding the recent developments related to the COVID-19 (Coronavirus), continue to impact our communities, TRS CPA Group considers the health and safety of our clients and employees to be our first priority. We continue to closely monitor the daily developments related to COVID-19 to implement the best health safety practices within our firm and will continue to be pro-active in this regard.

At TRS CPA Group we have the capability of delivering tax returns and other related work products electronically for those clients whose preference is to not pick up the information directly from our […]

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