Brooks CPA PLLC

Brooks CPA PLLC

Certified Public Accounting firm offering various tax preparation services such as: Payroll, Bookkeeping, Personal and Business Tax Returns, Audit Services, etc.

Income Tax Preparation - Business & Individual
Bookkeeping
Payroll Processing

Operating as usual

Filing and Payment Deadlines Questions and Answers | Internal Revenue Service 03/28/2020

Filing and Payment Deadlines Questions and Answers | Internal Revenue Service

IRS Notice 2020-18

This notice extended the filing deadline for personal and corporate tax returns until 7/15/20 that were originally due 4/15/20.

This new deadline will give you an automatic extension to file and pay your 2019 income taxes until 7/15/20 with no penalties or interest. You do not need to file a Form 7004 or Form 4868 requesting an extension.

This also applies to the 1st estimated tax payment.

North Carolina has also extended the filing deadlines. NC will waive penalties but NOT interest. Interest will begin 4/16/20 on any income tax originally due on 4/15/20. You can file and pay your tax due in full or make a payment to NC with an extension request by 4/15/20 to avoid interest charges.

Link to the IRS FAQs:

https://www.irs.gov/newsroom/filing-and-payment-deadlines-questions-and-answers

CARES Act and Stimulus Package:

The President signed the Coronavirus Aid, Relief and Economic Security Act (CARES) on March 27, 2020.

Eligible taxpayers will receive checks for $1200 (single or married filing separate taxpayers), $2400 (joint taxpayers) and $500 for each child under the age of 17.

Stimulus check amounts will start phasing out for taxpayers with AGI over $75,000 single and $150,000 joint.

The IRS will use your 2019 tax information or 2018 tax information, if you have not filed 2019 yet, to determine your qualifying payment amount and if you used direct deposit for a refund check this information will also be used to direct deposit stimulus checks.

These payments will not be taxable and will be reconciled on your 2020 return.

Small Business Loans/”Paycheck Protection Program”

SBA loans for businesses (including sole proprietors and self-employed) & non-profits:

-> With fewer than 500 employees; or
-> Must have been “substantially affected by COVID-19” which is described as
- Supply chain disruptions
- Staffing challenges
- A decrease in sales or customers
- Shuttered business

These loans may be eligible for forgiveness of indebtedness in the amount equal to the cost of maintaining payroll continuity and other allowable costs during the covered 8-week period.

Loan forgiveness amounts will be excluded from income

For more information

https://www.sba.gov/page/coronavirus-covid-19-small-business-guidance-loan-resources

Filing and Payment Deadlines Questions and Answers | Internal Revenue Service In Notice 2020-18 (PDF), the Treasury Department and the Internal Revenue Service (IRS) announced special Federal income tax return filing and payment relief in response to the ongoing Coronavirus Disease 2019 (COVID-19) emergency. Below are answers to frequently asked questions related to the relie...

Brooks CPA PLLC updated their business hours. 03/26/2020

Brooks CPA PLLC updated their business hours.

Brooks CPA PLLC updated their business hours.

03/28/2012

***Income Tax Preparation Services***

No waiting – drop off your information and we will call when ready!
Or
Schedule an appointment 828-497-5390

No Hidden Charges * Free E-file * Free Direct Deposit

03/04/2011

http://www.i/

Check the status of your refund - Go to www.irs.gov and click where's my refund. For NC State refund, go to www.dor.state.nc.us, click where's my refund.

http://www.i/

02/11/2011

We can prepare individual and business income tax returns. Please call us if you would like more information or to make an appointment.

Telephone

Address


25 Water Tower Lane
Whittier, NC
28789

General information

Our firm specializes in small business accounting needs by providing exceptional service to our clients. We build relationships with you while working closely to achieve your financial goals. Our small town style, combined with modern day technology, enables us to
provide the business solutions necessary to meet your needs.

Our staff includes:
Fran Brooks, CPA
Nancy Woodard, Accountant
Becca Wiggins, Assistant

Opening Hours

Monday 8am - 6pm
Tuesday 8am - 6pm
Wednesday 8am - 6pm
Thursday 8am - 6pm
Friday 8am - 6pm