American Rescue Plan Revisions

COBRAThe following changes are part of the American Rescue Plan recently passed by the House and Senate:

UNEMPLOYMENT BENEFITS

• For people with income less than $150,000, the first $10,200 of unemployment benefits for 2020 are non-taxable. Please recommend that if your clients have already filed and will need to amend, that you wait to see what NYS does as well.

• The weekly supplemental benefit, which is provided on top of regular benefits will remain $300, but will now run through September 6th.

HEALTH INSURANCE THROUGH COBRA

• Under the relief bill, the government would pay the entire COBRA premium from April 1st through September 30th. Previously, someone who loses a job could buy coverage via a former employer and have to pay at least 102% of the cost of the premium. If the individual left their job voluntarily, they would not be eligible.

Helping you understand your options.

There are three critical components to consider when choosing your representation and tax debt help…

Is the firm local? You want some one you can meet face to face with, who is familiar with your local IRS and will attend the IRS meetings are required.

YES – We are local!

Are they licensed? Only three licenses can represent you with a tax issue and IRS HELP has the experience and expertise in each discipline.

YES – We are licensed!

Do they have IRS experience and expertise? Actually, we have over 100 years combined experience helping individuals and businesses with their IRS and State tax problems. You want a representative that does this day in and day out, not some one expanding a practice or just learning the process.

YES – We have the experience!