May 2020

Tax relief has now been expanded to include additional returns, tax payments, and other actions for all Americans including those living overseas.

Businesses that have been financially impacted by COVID-19 may be able to take advantage of a new, refundable tax credit.

If you've lost your job you may have questions about how it could affect your tax situation. Here are some answers.
               

If you're thinking of setting up a crowdfunding campaign to help your small business stay afloat, here's what you need to know.
TAX DUE DATES

May 11

Employees who work for tips - If you received $20 or more in tips during April, report them to your employer. You can use Form 4070.

Employers - Social Security, Medicare, and withheld income tax. File Form 941 for the first quarter of 2020. This due date applies only if you deposited the tax for the quarter in full and on time.

May 15

Employers - Nonpayroll withholding. If the monthly deposit rule applies, deposit the tax for payments in April.

Employers - Social Security, Medicare, and withheld income tax. If the monthly deposit rule applies, deposit the tax for payments in April. 

IN THIS ISSUE
Tax Tips
QuickBooks Tips

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Dawson & Associates | 818 379-9800 | team@dawsoncpa.com | http://www.dawsoncpa.com
16027 Ventura Boulevard Suite 501
Encino, CA 91436
Dawson & Associates, 16027 Ventura Boulevard  Suite 501, Encino, CA 91436
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