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I hope this issue of the Tax Reduction Letter finds you and your family in good health. Warmest good wishes at this difficult time from all of us at the Bradford Tax Institute.
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As a response to the terrible COVID-19 pandemic, the government has quickly passed the Coronavirus Aid, Relief, and Economic Security Act (the CARE Act).
It was designed to provide you and your business with substantial financial benefits that can help you ride out the storm.
The bottom line? Uncle Sam wants to put cash in your pocket as soon as possible.
We’ll show you how to take full advantage of what the CARES Act has to offer when you read my new article titled Tax Tips: COVID 19: Important Tax Breaks from the CARES Act.
Here’s just some of the
valuable information we’ve got waiting for you:
- How long it will take for you to get your check
- Why you don’t have to repay the money you’ll receive or pay taxes on it
- How you could receive even more cash if your 2020 return shows a bigger credit than you’ll receive this year
- How the CARES Act increases the limits on your charitable contributions
- How the CARES Act temporarily suspends some of the Tax Cuts and Jobs Act (TCJA) limitations on net operating losses
- How the TCJA retroactively eliminates the Section 461(1) limitation rule for several years.
- And much more!
All will be explained when you read my new article
COVID 19: Important Tax Breaks from the CARES Act