WASHINGTON — The Treasury Department and the Internal Revenue Service today launched the Employee Retention Credit, designed to encourage businesses to keep employees on their payroll. The refundable tax credit is 50% of up to $10,000 in wages paid by an eligible employer whose business has been financially impacted by COVID-19.
IR-2020-61, March 30, 2020
Although McCo provides some services that are considered essential, we’re practicing social distancing. We value our customers and prospects. We also place an extremely high priority on the safety of our team members.
We’re participating in Invisible Majority’s taxation workshop. The workshop will focus on what creative types need to know about their crafts and taxation. More Info
WASHINGTON — The Internal Revenue Service today issued the 2020 optional standard mileage rates (PDF) used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.