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Action steps for EIDL loans due to COVID-19


Hello everyone. First, THANK YOU for being our clients and loyal blog post readers. We have been taking many calls and emails since the start of the COVID pandemic which has now turned into a worldwide financial crisis. We are hearing that you would rather see something from Killingsworth Spencer in Roswell than from the myriad of emails that make you wonder how you got on so many email lists.  Some have asked that we send out a daily briefing. We are studying material from official government websites, reliable webinars and white papers, and conference calls with trusted legal and financial [...]

Action steps for EIDL loans due to COVID-192020-03-31T23:13:15+00:00

To File or Not to File


The United States House of Representatives passed the $2T CARES Act this afternoon, and the President has signed it into law. Treasury Secretary Steve Mnuchin says the first set of stimulus checks under Division B, Title 1 should go out the week of April 6th. He also estimates that roughly 83% of Americans will receive some or all of the $1,200 per adult stimulus check. If you have not yet filed your 2019 tax return, you may want to delay until after you receive your stimulus check; here’s why. If your 2019 return is ready or nearly ready to be filed [...]

To File or Not to File2020-03-30T18:56:12+00:00

“Economic Injury”


“Not because they are easy, but because they are hard.” Some of you will recognize this quotation from President Kennedy’s 1962 speech that challenged America to go to the Moon by the end of the decade – after the U.S. was in space only 22 minutes! Many laughed and said it couldn’t be done that quickly. Today our planet is faced with a different type of challenge – COVID-19. Yes, it’s hard with one of the worst pandemics in human history. How we respond as nation’s, business owners, and as individuals will determine if this turns into a worldwide depression or [...]

“Economic Injury”2020-03-27T17:26:33+00:00

Update on July 15th, 2020 tax deadline


Update on the July 15th tax deadline Hello everyone, Lynn Spencer here. This post has the new tax filing deadlines for 2020. You now have until July 15th to do the following: File and pay federal and state of Georgia 2019 income taxes. You will automatically avoid interest and penalties on the 2019 taxes if paid in full by July 15th, 2020. Penalties and interest will begin to accrue on any remaining unpaid balances as of July 16th, 2020 Pay your first quarter 2020 federal and state of Georgia tax estimates. Please note that your 2nd quarter tax estimate is still [...]

Update on July 15th, 2020 tax deadline2020-03-30T19:03:55+00:00

IRS – Problem Resolution


Hopefully, you will never find yourself in the crosshairs of the IRS and its Collections and Enforcement Division. Hello, Judy Bernhard, CPA and Mason Hardin, EA here again from Killingsworth Spencer in Roswell. Today we want to provide a quick explanation as to how we help our clients solve their IRS tax debt issues. If you, a family member, or a close friend find themselves with an IRS or state of GA tax debt problem they cannot solve, do not panic! The IRS will ALWAYS state the maximum amount owed for two reasons – one to get your undivided attention, and [...]

IRS – Problem Resolution2020-02-24T22:16:19+00:00