The Internal Revenue Service (IRS) has extended the deadline to file Individual income tax returns for 2020 in the U.S. The new deadline is now May 17, 2021 (the usual deadline is April 15 every year).
Tax season is in full swing! Millions of Canadians and Residents are looking to file their taxes. Traditionally, taxpayers with simple tax situations tend to visit drop-off locations of various tax service providers. With Covid-19,
Many businesses in Canada have taken advantage of Canada Emergency Business Account (CEBA). The initial program offered $40,000 with 1/4 i.e. $10,000 is forgivable if certain conditions are met. Later on, the program expanded and
A lot of people have claimed CERB for the full 28 weeks period, totalling up to $14,000. Canada Revenue Agency (CRA) has issued letters to the taxpayers who they think might not have been eligible.
Canada Emergency Business Account (aka CEBA) has been the most talked-about government support program for small businesses. Since its launch, it has helped many small businesses with the liquidity pressures faced during the pandemic. Many
Canada Emergency Rent Subsidy (CERS) applications are open now. CERS provides much-needed support to Canadian businesses struggling with rent payments during the pandemic. If you have already applied for Canada Emergency Wage Subsidy (CEWS) you
Canadians in the U.S. must file U.S. tax return if they meet Substantial presence test. What’s the exception due to Covid-19
Canada Emergency Wage Subsidy (CEWS) has been providing significant support to Canadian jobs by covering 75% of employee’s wages (sometimes up to 85%, see new CEWS rules). A total of $35.31 billion has been paid
The Canada Revenue Agency (CRA) has introduced additional reporting requirements for T4 Information returns of 2020. The purpose of these additional requirements is to validate the benefit payments to Canada Emergency Response Benefit (CERB), Canada
NOTE: the Government is proposing to extend the CEWS further until June 2021. Canada Emergency Wage Subsidy (CEWS) has undergone major changes in July 2020. Extension of CEWS until end of 2020 Wage subsidy has
