What a year 2020 has been?  We have had COVID-19, wildfires here in Oregon, a full moon coming on Halloween, and to top it off a Presidential election.  Yes, it is that time again where we, as US citizens, have the opportunity to go to the polls and vote for the candidates of our choice. …

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Disaster Relief Payments

Qualified disaster relief payments received by an employee can be excluded from gross income under the Internal Revenue Code Section 139 Once President Trump declared COVID-19 and the Oregon Wildfires a national disaster under the Robert Stafford Disaster Relief and Emergency Assistance Act, and the IRS’s interpretation of the declaration for other tax purposes, it…

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Payroll Tax Holiday

You have probably been hearing about the Payroll Tax Holiday executive order signed by President Trump earlier this month. We finally received a little guidance from Treasury on August 29th, via notice 2020-65 (follow this link to the notice: https://www.irs.gov/pub/irs-drop/n-20-65.pdf ). However, there are still a lot of unanswered questions, and we are urging all…

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We have considered the guidance of government officials and medical professionals, and in order to protect our clients, staff, and community, Isler has instituted the following changes: As a precaution we will not be accepting any walk-ins or having in-person meetings without prior approval. However, we are still open and conducting meetings over the phone…

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Changes to the Paycheck Protection Program (PPP) were signed into law June 5th.  Included among these were the following: The original covered period for using the funds was expanded from eight weeks to 24 weeks, and the percentage of funds used for payroll costs was reduced from 75% to 60%. This was great news for…

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