In Notice 2020-51, the IRS provides relief for taxpayers who had already taken required minimum distributions (RMDs) in 2020 before the Coronavirus Aid, Relief, and Economic Security (CARES) Act, P.L. 116-136, suspended the RMD requirement for 2020 in response to the coronavirus pandemic and its effect on taxpayers and the stock market. Taxpayers who already […]

Apple CEO Tim Cook delivers the keynote address during the 2020 Apple Worldwide Developers Conference (WWDC) at Steve Jobs Theater in Cupertino, California. Brooks Kraft/Apple Inc/Handout via Reuters Apple said on Monday that it’s making two changes to its app approval policies, after developers erupted in anger last week over the App Store’s rules.  All […]

The IRS issued proposed regulations (REG-119307-19) implementing changes to Sec. 274 that disallow a deduction for the expense of any Sec. 132(f) qualified transportation fringe (QTF) provided to an employee, effective for amounts paid or incurred after Dec. 31, 2017. The changes were enacted in the law known as the Tax Cuts and Jobs Act […]

President Donald Trump pumps his fist as he enters his first re-election campaign rally in several months in the midst of the coronavirus disease (COVID-19) outbreak, at the BOK Center in Tulsa, Oklahoma, U.S., June 20, 2020. Leah Millis | Reuters President Donald Trump is “furious” at the “underwhelming” crowd at his rally in Tulsa, Oklahoma, on […]

The U.S reported some 30,000 new coronavirus cases on Friday, the highest number of daily infections recorded since May 1, according to data compiled by Johns Hopkins University. New cases across the country are surging faster than ever, especially in states in the South, West and Midwest. Officials are warning that some clusters of infections […]

SpaceX President and COO Gwynne Shotwell Jay Westcott / NASA SpaceX president and COO Gwynne Shotwell sent a company-wide email on Friday to clarify CEO Elon Musk‘s declaration about Juneteenth, as well as to tell employees about new diversity initiatives at the company. “Next year, Juneteenth will be an official company holiday,” Shotwell wrote in […]

The IRS explained on Friday how qualified individuals can take coronavirus-related loans and distributions from eligible retirement plans (Notice 2020-50). Qualified individuals receive favorable tax treatment for those distributions under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, P.L. 116-136. Distributions: A coronavirus-related distribution is not subject to the Sec. 72(t) 10% additional tax […]

The emotions underlying decisions can create confusion in times of major transition like the pandemic. In this podcast, you will walk away with gems to help you have better conversations with your clients that lead to action with purpose. Tune in as Lyle Benson interviews life transition expert Susan Bradley: What are the four stages […]

American Airlines Boeing 737-800 aircraft Nicolas Economou | NurPhoto via Getty Images American Airlines is temporarily banning a customer who was kicked off a flight in New York this week for refusing to wear a face mask on board, a requirement on major U.S. airlines that aims to curb the spread of Covid-19. American said crew asked the […]

Crosschq CEO Mike Fitzsimmons Crosschq At a virtual board meeting in early March, Crosschq CEO Mike Fitzsimmons told directors of his online recruiting company that he was about to make an unexpected call to Slack. With fears of the coronavirus roiling capital markets and the economy on the verge of shutting down, Fitzsimmons wanted to […]