Month: September 2021

IRS: New contracts awarded to private collection agencies; taxpayers may be contacted by one of three groups

The Internal Revenue Service has awarded new contracts to three private-sector collection agencies for the collection of overdue tax debts. The new contracts begin Thursday following September 22nd’s expiration of the old contracts.

Beginning Thursday, Sept. 23, 2021, taxpayers with unpaid tax bills may be contacted by one of the following three agencies:

CBE Group, Inc.
PO Box 2217
Waterloo, IA 50704
800-910-5837

Coast Professional, Inc.
PO Box 526
Albion, NY 14411
888-928-0510

ConServe
PO Box 307
Fairport, NY 14450
844-853-4875

Notification by IRS and the private collection agencies
The IRS will always notify a taxpayer before transferring their account to a private collection agency (PCA).… Read More

Tax Relief Now Available to Ida Victims in Pennsylvania; Oct. 15 Deadline, Other Dates Extended to Jan. 3

Victims of Hurricane Ida in parts of Pennsylvania now have until Jan. 3, 2022, to file various individual and business tax returns and make tax payments, the Internal Revenue Service announced today. The IRS has also provided relief to Ida victims in Louisiana, Mississippi, New Jersey, and New York.

The IRS is offering relief to any area designated by the Federal Emergency Management Agency (FEMA) as qualifying for individual or public assistance. Currently, this includes Bucks, Chester, Delaware, Montgomery, Philadelphia, and York counties, but taxpayers in Ida-impacted localities in other parts of Pennsylvania, subsequently designated by FEMA, will automatically receive the same filing and payment relief.… Read More

UPCOMING WEBINAR – Single Audit Update 10/5

As a result of funding received through the various government programs, there will be at least 10,000 first-time single audits. With that said, each program funded through the CARES Act, Secure Act, CRRSA Act, and ARPA has unique guidance and compliance requirements.

Join us for a webinar at 11 a.m. on Tuesday, October 5, 2021. Brinker Simpson’s Audit Manager James Trubenbach-Byrne, CPA, will review the major COVID-19 funded programs and current guidance on the reporting and compliance requirements. For those subject to a compliance audit, we will review in depth each compliance attribute.

CLICK HERE TO REGISTER

The single audit and compliance requirements will apply to all types of organizations, including not-for-profit entities, for-profit entities, and governmental organizations.… Read More

Improvements Announced for COVID EIDL Program

The National Restaurant Association has taken an “all of the above” approach to federal recovery efforts. From the Paycheck Protection Program, the Employee Retention Tax Credit, to the Restaurant Revitalization Fund – they are focused on providing relief through every possible measure.

The National Restaurant Association has been actively engaged with the Small Business Administration (SBA) to improve the COVID Emergency Injury Disaster Loan (EIDL) program to make it more usable for restaurants. Last week, the SBA unveiled a new expansion of the program – increasing the loan limit and improving the range of uses, all while retaining the same very low federal interest rate.… Read More

HHS Announces the Availability of $25.5 Billion in COVID-19 Provider Funding

The Biden-Harris Administration announced today that the U.S. Department of Health and Human Services (HHS), through the Health Resources and Services Administration (HRSA), is making $25.5 billion in new funding available for health care providers affected by the COVID-19 pandemic. This funding includes $8.5 billion in American Rescue Plan (ARP) resources for providers who serve rural Medicaid, Children’s Health Insurance Program (CHIP), or Medicare patients, and an additional $17 billion for Provider Relief Fund (PRF) Phase 4 for a broad range of providers who can document revenue loss and expenses associated with the pandemic.

Consistent with the requirements included in the Coronavirus Response and Relief Supplemental Appropriations Act of 2020, PRF Phase 4 payments will be based on providers’ lost revenues and expenditures between July 1, 2020, and March 31, 2021.… Read More

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