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COVID-19 SBA Economic Injury Disaster Loan
by Aleksei Koutin on 02 Apr, 2020 - 0 comments
The SBA has changed their loan program in the aftermath of CARES act. Up to the first $10,0000 of Economic Injury Disaster Loan (EIDL) may now be a treated as GRANT meaning you will not have to pay it back. The app is here- https://covid19relief.sba.gov/#/ You’ll need a profit and loss from January 31, 2019 […]
OUR COVID-19 Response
by Aleksei Koutin on 01 Apr, 2020 - 0 comments
Here at cloudcpas.net, we’re working everyday with clients who are facing seemingly impossible sometimes scenarios with their businesses and their customers in the wake of COVID-19. In order to better support business community that we’ve served for over 17 years, we’are are promoting automatic 50% discount on all billable compliance and accounting services for next […]
Tax Scams Security Awareness
by Aleksei Koutin on 03 Mar, 2020 - 0 comments
As Tax Season is here, scammers claiming to be from the Internal Revenue Service, contact potential victims by email, telephone, text messages in an effort to acquire your personal information. Spam emails can redirect unsuspecting users to websites that contain malware. The Internal Revenue Service (IRS): Will not contact you via telephone, email, text messages […]
IRS has issued new guidance on taxation of virtual currency
by Aleksei Koutin on 14 Oct, 2019 - 0 comments
On October 9 the IRS released long-awaited guidance for taxpayers who engage in transactions involving virtual currency. This is the first official guidance coming from the IRS on this topic in over five years. Two documents, Revenue Ruling 2019-24 and a set of 43 FAQs, address a range of issues, including forks, off-chain transactions, revenue […]
IRS wants to know about your crypto in 2019
by Aleksei Koutin on 11 Oct, 2019 - 0 comments
On Oct. 11, a draft of the “Additional Income and Adjustments to Income” section of the new 1040 form surfaced that included a change was made to the ‘Additional Income and Adjustments to Income’ section. On the new 1040 form, the additional question reads: “At any time during 2019, did you receive, sell, send, exchange, […]
Don’t be a victim – IRS Tax Scams
by Aleksei Koutin on 08 Mar, 2019 - 0 comments
It could be a terrible year for tax fraud, as the IRS is playing catch up after the government shutdown. It appears that scammers have plenty of opportunities to run rampant. Please keep in mind: IRS does not initiate contact with taxpayers by telephone, email, text messages or social media channels to request personal or […]
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