Tax Day Now July 15

Treasury and IRS Extend Filing Deadline and Federal Tax Payments to July 15 Regardless of Amount Owed – Individual and Business Extension Forms Not Necessary (3‐21‐2020) On Friday March 20, 2020, the IRS issued a News Release (IR‐2020‐58) and Notice 2020‐18 clarifying, expanding on, and changing previous guidance regarding taxpayers filing and payment obligations for

Tax Authorities Issue Guidance on Tax Relief Due to the Covid-19 Pandemic

Federal On Tuesday, March 17, 2020, Treasury Secretary Mnuchin announced that the IRS will waive interest and penalty charges on federal tax payments due April 15, 2020 for 90 days. This was in response to the coronavirus outbreak (COVID-19). Quickly thereafter the IRS released Notice 2020-17 (Wednesday, March 18, 2020) providing guidance on the 90-day

Congress Removes IRA Contribution Age Restriction

In the past, unlike Roth IRAs, which have no age restriction associated with making a contribution, taxpayers were unable to make a traditional IRA contribution in and after the year they reached the age of 70½. This is primarily because a Roth IRA contribution is not tax deductible, while a traditional IRA is, unless it

Mortgage Insurance Premium Deduction Retroactively Extended

On December 20, 2019, President Trump signed into law the Appropriations Act of 2020, which included a number of tax law changes, including retroactively extending certain tax provisions that expired after 2017 or were about to expire, a number of retirement and IRA plan modifications, and other changes that will impact a large portion of

IRS Letters: Tax Scam or Something You Need to Address?

Your taxes contain an array of sensitive information, from financial data to your Social Security number or tax ID number. Because of this, there are many scams that unsavory characters attempt to perpetrate by impersonating the IRS or another tax authority. It can be difficult to tell when the IRS is really seeking information versus

How is WNDE Addressing the Coronavirus (COVID-19) »

An Update Regarding Coronavirus (COVID-19) To our valued clients, At White Nelson Diehl Evans (WNDE), the health and safety of our employees and our clients is of paramount importance. For this reason, we are taking specific precautions to protect our staff and visitors during the current outbreak of Coronavirus. With confirmed cases reported in our

Don’t Get Audited: Follow This Guide to ERISA Compliance

Most companies will offer some kind of qualified retirement package to their workers and when they do this, they’ll also have to have ERISA compliance because they’ll fall under the governing rules of the ERISA ACT of 1974. ERISA establishes minimum standards and guidelines designed to protect workers in the private sector that participate in

Why You Should Set Up a Trust As Soon As Possible

By the end of 2020, industry watchers expect trusts and estates to hold an aggregate value of $198.8 billion. That will represent a 2.9% growth over the same period. Do you know how to protect the assets in your estate and ensure they’re passed on to the right people? The well-being of your loved ones after

WNDE Debuts New Website

The regional accounting and advisory firm of White Nelson Diehl Evans LLP (WNDE) is excited to announce the debut of their new website. “We put a lot of thought into the comprehensive redesign of our website in order to create a space that accurately represents the mission of our firm and provides an optimized user

3 Business Support Services That Will Optimize Your Business Capital

Hiring full-time employees to execute business-essential functions can become extremely expensive. Businesses looking to optimize their capital should consider business support services. Outsourcing critical functions can save money and time for your organization. Bookkeeping Making an accounting mistake or payroll error results in confusion and wasted time. If you’re not skilled in leading the accounting and financial