Coronavirus

Are you liable for fraudulent credit and debit card charges?

Credit and debit card fraud was already a big problem when COVID-19 hit. Although how much payment card fraud increased in 2020 depends on the source, most experts agree that, like most types of fraud, it flourished during the pandemic. COVID-19-related prevention and treatment scams and increased online shopping likely contributed to this rise. If …

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What qualifies as a “coronavirus-related distribution” from a retirement plan?

As you may have heard, the Coronavirus Aid, Relief and Economic Security (CARES) Act allows “qualified” people to take certain “coronavirus-related distributions” from their retirement plans without paying tax. So how do you qualify? In other words, what’s a coronavirus-related distribution? Early distribution basics In general, if you withdraw money from an IRA or eligible …

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Fraudsters are using COVID-19 to fleece Americans

As governments around the globe mobilize to defend their populations from the novel coronavirus (COVID-19), criminals are also mobilizing — to fleece people. These opportunists have already found ways to use the fear and chaos associated with the pandemic to enrich themselves. But you can protect yourself and your business. Ripe opportunity Phishing emails that …

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Coronavirus (COVID-19): Tax relief for small businesses

Businesses across the country are being affected by the coronavirus (COVID-19). Fortunately, Congress recently passed a law that provides at least some relief. In a separate development, the IRS has issued guidance allowing taxpayers to defer any amount of federal income tax payments due on April 15, 2020, until July 15, 2020, without penalties or …

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