The IRS has announced that the deadline to register for an Economic Impact Payment (EIP) is now November 21, 2020. Further, the IRS has urged taxpayers, to register using the Non-Filers: Enter Info H...
The Treasury Department and the Small Business Administration issued updated Frequently Asked Questions (FAQs) on October 13, 2020, regarding the Paycheck Protection Program (PPP). This was a follow u...
The IRS has notified lenders to not file information returns or furnish payee statements under Code Sec. 6050P to report the amount of qualifying forgiveness for covered loans made under the Paychec...
The IRS has added an FAQ on the timing for ending the temporary procedures that allow Form 1139, Corporation Application for Tentative Refund, and Form 1045, Application for Tentative Refund, to be ...
Health insurance providers (including employers and health insurance companies) now have until March 2, 2021, to provide individuals with Forms 1095-B, Health Coverage, or Forms 1095-C, Employer-Provi...
The IRS has reminded taxpayers that now is the perfect time to review their tax withholding and payments to avoid surprises while filing next year. An adjustment or two made now may boost take home pa...
The IRS has launched a redesigned page on its website to help business owners navigate the federal tax steps when closing a business. The IRS has streamlined the "Closing a Business" page into sim...
he IRS has removed Form 1040-NR, U.S. Nonresident Alien Income Tax Return, from the list of returns that are administratively exempt from the electronic filing requirement imposed on specified tax re...
The interest rate for overpayments and underpayments of Michigan taxes is 4.25% for the period of January 1, 2021 through June 30, 2021. Revenue Administrative Bulletin 2020-18, Michigan Department o...
March 24, 2020
SERVICE CHANGES: Schlaupitz Madhavan offices are closed through Monday, April 13 – offices to re-open on Tuesday, April 14 – not accepting drop-offs during period of closure
Dear Clients and Friends,
On March 23, Governor Whitmer announced the “Stay Home, Stay Safe” Executive Order 2020-21 that closed more nonessential businesses. Under U.S. Department of Homeland Security essential critical worker classifications, certain of our services qualify as essential critical infrastructure workplaces including our client payroll service. As a result, we have implemented the following changes during this very difficult time:
- Our offices are closed and will re-open on Tuesday, April 14.
- Our team members continue to work from their home offices. Contact them via phone or email.
- Tax services:
- Mail or email your documents to our office. We are not accepting drop-off’s or pick-up of documents during this period of closure. We will have someone at each office to receive incoming mail during this period of closure.
- Your tax returns will be sent to you electronically as we are not able to provide you with paper copies of your tax returns at this time. You will also need to return all e-file authorizations electronically.
- The tax filing and tax payment deadlines of April 15 have been extended three months to July 15. Some of our tax work will be spread out and rescheduled to be completed after April 15 as a result of these difficult times.
- Payroll services:
- Provide your payroll information to your payroll accountant by email, if possible. We will continue to receive payroll information by FedEx, UPS or regular mail also.
- Your payrolls will be processed as regularly scheduled and your payroll accountant will let you know if there are any changes that result.
- Accounting, auditing and consulting services:
- Our team members are continuing to work from their home offices while our offices are closed. They will communicate with you to coordinate receipt of necessary information and delivery of financial reports and other documents that are required.
- Financial reports and other documents will be delivered electronically during this period.
This is a time where everyone needs to and has come together to take care of their families and their professional responsibilities as much as possible. We are grateful to all of our team members, our clients and our vendors for all that everyone is doing to work together, figure this out and stay safe.
President, Managing Director
Schlaupitz Madhavan, P.C