IRS Updates + Upcoming Webinars

IRS Rules Are Changing (For The Better)

 

Many of us were finalizing our taxes when the pandemic hit. For those that did not file for an extension, the government moved the federal tax filing and payment deadline to July 15, 2020. There are several potential changes that may benefit you on your 2020 taxes, including:


• Delaying payment of Employer Payroll Taxes to 2021 and 2022
• Changes to Net Operating Loss Rules
• Increases to the amount of interest expense businesses may deduct (potentially) from 30% to 50% for 2019 and 2020
• Employee retention tax credits of 50% up to $10,000 per employee on wages paid from (dates in flux) 3/12/20-1/1/21 for COVID-19 impacted businesses
• Tax credits for employers who offer paid leave to those with Covid-19
• Payment deferrals on existing loan programs


Read the article for more information.

 
 
 

 

Upcoming Webinars

 

We're offering a new webinar every Thursday at 12:00 p.m. EST exclusively for BAC signatory contractors. Register to join one of our upcoming sessions.

 

06/11/2020 - Flashing Masonry Wall Systems

06/18/2020 - Stone: Identifying and Evaluating Conditions (Part 1)

06/25/2020 - Stone: Masonry Repair (Part 2)

 

Register to Join

 
 
 

Industry Headlines

 

Here's a news roundup from around the industry: 

 

 
 
 

 

International Masonry Institute, 17101 Science Drive, Bowie, Maryland 20715, USA