In today’s digest we are looking at the financial impact of the pandemic: on the nearing July 15 Tax Deadline, Families First Coronavirus Response Act (FFCRA), and projections for the housing market in the weeks to come.
Normally May and especially June aren’t the months for tax strategies for the current year returns. But the times aren’t normal. Every day we wake up to new additions to the current legislation on the economic response, and it plays a big role for taxpayers and tax professionals.
When the tax filing date was moved from April 15 to July 15, 2020 New York tax preparer John Sheeley said “That gives an additional 90 days to fund all IRA contribution types, including SEP IRAs,” adding that the filing date change also extends the ability to make contributions to qualified retirement plans, and health savings accounts.
Roger Russell at Accounting Today looks at what can be done now to make the most of the updated date that is nearing.
By Gary DeHart
Important updates to the Families First Coronavirus Response Act (FFCRA) Poster show that all private employers, as well as certain public employers, must display the new federal workplace posting from April 1, 2020, through December 31, 2020. There’s more to know, head to the article on Insightful Accountant for more.
3. HouseCanary Market Pulse Monitors US Housing Market Volatility Since the Start of the Coronavirus Pandemic
Current listings show a sign of recovery.
Median list price per-square-foot for all single-family detached homes remains up in most states on a year-over-year basis, with the exception of New York and New Jersey, two of the hardest-hit states in the nation, where COVID-19 cases remain relatively high.
The median list price per-square-foot for all single-family detached homes is flat to slightly down since the week ending March 13 across most states. New Jersey has experienced the largest decline over this period at -4.8%.
Learn more from HouseCanary analysis for Business Wire in this week’s article.
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