Brennan, Manna & Diamond
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Everything you need to know about BMD and the industry.
Client Alert
Economic Impact Payment is Not Taxable Income
May 12, 2020
The IRS stated that the economic impact payments are not considered taxable income. Therefore, individuals will not owe tax on the amount of economic impact payment received.
Posted by
Tracy L. Albanese
Client Alert
UPDATED: Impact Payment Breakdown: How Much Will I Get, When Will I Get It and What Do I Need to Do?
April 2, 2020
UPDATED: The IRS announced that Social Security beneficiaries who are not typically required to file a tax return will not need to file a return to receive the economic impact payments. These payments will automatically be deposited into their bank accounts. This only applies to individuals receiving social security. Other individuals who typically do not file a tax return will still need to submit a return in order to receive the economic impact payment.
Posted by
Tracy L. Albanese
Client Alert
Is Insurance Available for Coronavirus Losses?
March 27, 2020
The shutdown of non-essential businesses in Ohio and other states, as well as the economic impacts caused by the coronavirus, are forcing businesses to evaluate all options to keep their doors open and their staff employed. Many businesses are asking whether their insurance policies provide for the recovery of lost business income and expenses due to the coronavirus.
Posted by
Kyle A. Johnson, Robert A. Hager, Justin M. Alaburda, Jeffrey C. Miller and Justin M. Lovdahl