700 N. Fairfax St. Suite 400 Alexandria, VA 22314

Ph: 703.535.1200 | Fx: 703.535.1205

700 N. Fairfax St. Suite 400 Alexandria, VA 22314 Ph: 703.535.1200 Fx: 703.535.1205

Update: Virginia Follows IRS Due Date Move to May 17

Renner Individual News; March 22, 2021—Joan M. Renner, CPA, CGMA Virginia has moved the deadline for filing 2020 individual tax returns to May 17, aligning the Virginia due date with the new due date for federal returns. Last week, the IRS gave individual taxpayers until May 17 to file their 2020 federal returns. While many … Continued

IRS Moves 1040 Due Date to May 17

Renner Individual News; March 19, 2021—Joan M. Renner, CPA, CGMA Amid the second tax season of the pandemic, the IRS is giving individual taxpayers another month to file their 2020 returns.  While many taxpayers will benefit from this extra time, others will not.  How will this change affect your tax filing deadlines? More time to … Continued

High-Five for Your 2020 Business Taxes—New Laws Bring Relief

Renner Business News; January 18, 2021–Joan M. Renner, CPA, CGMA To address devastating losses from the COVID-19 pandemic, new laws will bring businesses some relief on their 2020 federal tax returns. The CARES Act has loosened limits on deducting 2020 business interest and net operating losses, and the Consolidated Appropriations Act of 2021 (CAA) has clarified favorable tax treatment … Continued

New Law Allows PPP Second Draw for Hard-Hit Small Businesses

Renner Business News; January 13, 2021—Joan M. Renner, CPA, CGMA The Consolidated Appropriations Act of 2021 (CAA) includes a number of provisions to help small employers affected by the pandemic. One of the biggest features is the expansion of the Paycheck Protection Program (PPP) originally created by the CARES Act.   The new law extends the … Continued

New Act Extends Emergency Leave Credit for Employers—Including Self-Employed

Renner Business News; January 11, 2021—Joan M. Renner, CPA, CGMA The Consolidated Appropriations Act of 2021 (CAA) includes a number of provisions to help small employers affected by the pandemic. If you have had employees who were unable to work due to COVID-19 illness, quarantine or school closings, the Families First Coronavirus Response Act (FFCRA) funds up to 12 … Continued

Joan Renner Recognized for Women’s Leadership

Renner Firm News; November 2, 2020 The Virginia Society of CPAs (VSCPA) champions the accomplishments of women in the accounting profession and has created the Women to Watch Awards for established and emerging female leaders in the accounting profession. Winners will be recognized at the second annual Women’s Leadership Forum in December. In 1898, when … Continued

Paycheck Protection Program – Self-Employed Not Left Out

Renner Business News; April 27, 2020—Joan M. Renner, CPA, CGMA A new COVID-19 relief package is expected to provide $310 billion additional Paycheck Protection Program (PPP) funding very soon to help small businesses and charities amid the COVID-19 crisis. Organizations can use PPP loans to pay rent, payroll, utilities and existing mortgage interest. After eight … Continued

The Employee Retention Credit— How To Claim It

Renner Business News; April 14, 2020—Joan M. Renner, CPA, CGMA The IRS has provided guidance for employers who want to take advantage of the Employee Retention Credit.  Small businesses and nonprofits experiencing economic hardship related to the COVID-19 crisis can claim a refundable credit for half the amount of wages paid to employees from March 13 through … Continued

CARES Act Offers Individuals Financial Relief

Renner Business News; April 1, 2020 Many individuals will receive much-needed financial relief from the provisions of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, including— Recovery checks, Additional tax deductions for charitable contributions, Waiver of penalties for early pension distributions, and Waiver of the requirement for required minimum IRA distributions. Recovery Rebate Checks … Continued