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TaxBasket provides tax preparation services for U.S. individual and business income tax. Wide range of services for your tax needs. No software, we prepare! Services provided nationwide.

Common Tax Credits for Individuals

Tax credits can either lower what you owe in taxes or increase your refund. Some credits might even give you money back, even if you don't owe taxes. These credits are like helpful tools from the government, encouraging good actions. They're not just about saving money but also about making things better, like supporting [...] Read more

By |2024-01-11T09:20:40-05:00January 10th, 2024|Individual|

Beneficial Ownership Information Reporting

Beneficial Ownership Information Reporting (BOI) stands as a critical component in financial transparency, aiming to combat money laundering and illicit financial activities. Filing BOI reports with the Financial Crimes Enforcement Network (FinCEN) is a mandatory process for various entities, ensuring a clearer understanding of the individuals behind a company or entity. Below you can [...] Read more

By |2024-02-19T12:51:58-05:00January 2nd, 2024|Business|

PPP Deadline Extended to May 31st

Paycheck Protection Program (PPP) application deadline is extended from March 31st to May 31st, 2021 by Senate. The PPP Extension Act of 2021 does not provide any additional funding for the current round of the PPP. You can apply for PPP Loan with New Self-employment Gross Income PPP Loan Application Guide till May 31st. [...] Read more

By |2024-02-19T12:52:21-05:00March 26th, 2021|PPP|

SBA Increased Loan Limit for EIDL

The U.S. Small Business Administration (SBA) is increasing the maximum amount small businesses and non-profit organizations can borrow through its COVID-19 Economic Injury Disaster Loan (EIDL) program. Starting the week of April 6, 2021, the SBA is raising the loan limit for the COVID-19 EIDL program from 6-months of economic injury with a maximum loan [...] Read more

By |2024-02-19T12:52:28-05:00March 24th, 2021|EIDL|

Tax Filing Deadline Extended for Tax Year 2020

As of March 17, 2021,the  Treasury Department and Internal Revenue Service announced  that the federal income tax filing due date is automatically extended from April 15, 2021 to May 17, 2021 for individual taxpayers giving them an additional 30 days to file and pay their 2020 tax liability.State tax returnsThe federal tax filing deadline postponement [...] Read more

By |2021-03-20T01:27:32-04:00March 17th, 2021|COVID-19|

SBA Deferred EIDL Payments until 2022

The U.S. Small Business Administration announced extended deferment periods for all disaster loans, including the COVID-19 Economic Injury Disaster Loan (EIDL) program. Small businesses won’t have to start making payments on the loan until 2022.In a news release issued on March 12th, Friday evening, the SBA announced extended deferment periods for all of its disaster [...] Read more

By |2021-03-24T23:44:29-04:00March 15th, 2021|COVID-19, EIDL|
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