Sciarabba Walker Blog
The information in these blog posts is provided for general informational purposes only and is not intended to substitute for accounting, tax, or financial advice from a professional accountant. While we use reasonable efforts to furnish accurate and up-to-date information, we do not warrant that any information contained in or made available through this blog is current or error free. No part of this communication is intended to be used for the purpose of avoiding penalties under U.S. federal tax law.
COVID-19 Stimulus Bill Breakdown
On Friday, March 27, 2020, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law by President Trump in an effort to provide economic relief in the wake of the COVID-19 (Coronavirus) pandemic. Below are some of the key provisions of the...
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COVID-19 Small Business Resources
As federal and state governments work to alleviate the financial hardship caused by the ongoing COVID-19 (Coronavirus) pandemic, it can be difficult to stay up to date on all the resources being made to small businesses at this time. We have compiled a variety of...
read moreCOVID-19 (Coronavirus) Precaution Update
As the worldwide COVID-19 (Coronavirus) pandemic continues, we’d like to update our clients and community on the precautions we continue to take as a firm: All staff were given the option to work from home beginning on Monday, March 16. While financial service...
read moreTreasury Department and New York State Extend April 15 Filing Deadline
Today, the Treasury Secretary Steven Mnuchin announced the Federal tax filing deadline had been extended from April 15 to July 15. Later in the day, New York Governor Andrew Cuomo announced that New York would extend the state tax filing deadline to July 15, as well....
read moreTax Payment Deadline Extended
Updated 3/20/2020: In response to the COVID-19 (Coronavirus) pandemic, the Treasury Department and Internal Revenue Service are extending the federal income tax payment deadline until July 15, 2020. Here are the specifics: Individuals and Trusts: Payment of up to $1...
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The Difficulty of Valuing Virtual Currency
More investors than ever are contemplating adding virtual currency to their portfolio. Whether you are curious about Bitcoin, Ethereum, Facebook’s recent entry Libra, or any of the thousands of other virtual currencies available now, you may be thinking it is time for...
read moreCOVID-19 (Coronavirus) Statement to Clients
Please read our updated precaution statement by clicking here. Regarding the current outbreak of the Coronavirus (COVID-19), until further notice Sciarabba Walker will be taking the following precautions: All staff will be given the option to work from home starting...
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Net Operating Losses After the TCJA
Among the many changes brought about by the Tax Cuts and Jobs Act (TCJA) are changes to the calculations of Net Operating Losses on individual income tax returns. Losses arising in tax years ending after 2017 can generally only be carried forward (the carry-forward...
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Do You Qualify for the NYS State School Tax Relief Program?
The NYS State School Tax Relief Program, also known as the STAR, provides homeowners in New York with relief on their property taxes. There are two types of STAR programs - the Basic STAR and the Enhanced STAR. To qualify for the Basic STAR, you need to fulfill these...
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New IRS Procedures Enable Expats to Come into Compliance with U.S. Tax and Filing Obligations
The IRS has announced new procedures that allow certain expatriates who have relinquished their U.S. citizenship to come into compliance with their U.S. tax and filing obligations and receive relief for back taxes. The new procedures can be found on the IRS website....
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