News by MHCS

Child Tax Credit Advance Payments

Jun 22, 2021

The IRS has started sending out letters to families who may qualify for advanced payments of the child tax credit which was expanded as part of the American Rescue Plan Act. Some key points to note: ...

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State Tax Alert

Jun 03, 2021

State and local taxes change frequently throughout the year. To help, MHCS has created State Tax Alerts to identify those state and local changes that may impact you and your business. Since your time...

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PPP Loan Forgiveness & ERTC Update

Jun 01, 2021

PPP Loan ForgivenessIf you received a PPP loan in 2020 and haven’t yet applied for forgiveness, it may be time for you to begin that process. Borrowers have 10 months following the end of their covere...

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Navigating Motherhood

May 05, 2021

I still vividly remember the ultrasound technician saying, “I think there might be two in there.” After my hysterical laughter subsided and the color returned to my husband’s face, I could not help bu...

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The Tax Route Special Edition - April 2020

Apr 30, 2021

We hope you are all staying safe and healthy during this unique time. As the COVID-19 pandemic continues to grow with each day, our team is committed to working with our clients to help maximize any b...

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Paid Sick Leave Update

Apr 07, 2021

On March 11, 2021, President Biden signed into law the American Rescue Plan Act of 2021 (“Rescue Plan”). The Rescue Plan provided funding and changed tax policies to mitigate the continuing effects of...

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Paid Sick Leave

Apr 06, 2021

There are many different relief options that employers can utilize to ensure that their employees receive compensation while dealing with COVID-19, one of which is paid sick leave. This can be used by...

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Individual Tax Due Date Changes & American Rescue Plan Update

Mar 19, 2021

On Wednesday, the Treasury Department and Internal Revenue Service moved the tax year 2020 individual income tax filing date from April 15, 2021 to May 17, 2021. This change is automatic and requires ...

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American Rescue Plan Act of 2021 for Individuals

Mar 19, 2021

Below is a summary of the American Rescue Plan Act of 2021 (H.R. 1319) for individuals. The bill was signed into law on 3/11/2021. Special information that may impact individuals who received unemp...

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American Rescue Plan Act of 2021 for Businesses

Mar 19, 2021

Below is a summary of the American Rescue Plan Act of 2021 (H.R. 1319) for businesses. The bill was signed into law on 3/11/2021. Grants for restaurants and other food businesses (Restaurant Revita...

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