Whalen CPAs: Blog

Discover Our Thoughts on Important Accounting Topics.

We understand that constantly changing tax laws can get confusing. That is why we keep our blog updated on tax policies that could affect the life and business of our clients. If you have any questions regarding an article featured on our blog, please contact the experts at Whalen CPAs for more information. Want info delivered right to your inbox – Subscribe Now

IRS Offers Guidance On Employee Retention Credit

On March 1, 2021, the Internal Revenue Service issued Notice 2021-20 in order to provide further guidance on the Employee

New PPP Changes For Small Businesses

The Biden Administration announced this week that it will institute a two-week period starting Wednesday, 2/24 during which only businesses

Lawmakers Ask IRS To Extend Tax Season

Democrats on the House Ways and Means Committee are urging the IRS to again extend tax season beyond April 15

Did you make donations in 2020? There’s still time to get substantiation

If you’re like many Americans, letters from your favorite charities may be appearing in your mailbox acknowledging your 2020 donations.

Ohio Urging Victims of Unemployment Fraud to Act Now to Avoid Tax Troubles

The Department of Taxation (ODT) is warning Ohioans who may be victims of unemployment fraud to report the suspected fraud

2021 Individual Taxes: Answers to your Questions About Limits

Many people are more concerned about their 2020 tax bills right now than they are about their 2021 tax situations.

Employee Retention Tax Credit Update

The Consolidated Appropriations Act, 2021 that was signed into law on December 27, 2020 includes several significant changes to the

Commercial Activity Tax (CAT) Update

Due to Ohio statutes for Commercial Activity Tax (CAT) reporting purposes, in addition to regular revenue typically reported for CAT

IRS Delays Start of Tax Filing Season to Feb. 12

The IRS announced that the nation's tax season will start on Friday, February 12, 2021, when they will begin accepting

Educate yourself about the revised tax benefits for higher education

Attending college is one of the biggest investments that parents and students ever make. If you or your child (or

President Trump Signs Coronavirus Relief Bill

President Trump on Sunday night signed into law the $900 billion COVID-19 relief bill passed Dec. 21 by Congress.

Can you qualify for a medical expense tax deduction?

You may be able to deduct some of your medical expenses, including prescription drugs, on your federal tax return. However,

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