Author Archives: William Murphy

About William Murphy

William F. Murphy is the owner of Murphy Financial Group, P.C. The firm emphasizes in providing tax consulting and financial planning services to corporations, professional practices and individuals. He also provides consultation services on tax and financial planning issues to various news and publishing organizations on current tax law changes occurring within federal and state government. He is also the author of the “Murphy Minute” that is syndicated through various news organizations. Mr. Murphy is also associated with the law firm of Mallor Grodner LLP. The firm has offices in both Indianapolis and Bloomington Indiana. He assists in providing tax, valuation and financial analysis services focusing in the areas of Family law and business tax planning. https://www.linkedin.com/in/william-f-murphy-cpa-pfs-abv-cff-cgma-b38aa713/.

Tax Filing Deadline Update….The IRS has extended the deadlines for Employment and Benefit Plans because of the CO-19…(Notice 2020-35)

Posted on June 1, 2020 by William Murphy

Be aware that the IRS has issued this week some major changes in tax filing deadline for several tax filings. The new filing dates range from June 30 through August 31, 2020. Take note of these changes and interest and … Continue reading →

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Accountant-turned-attorney couldn’t deduct law school costs

Posted on May 26, 2020 by William Murphy

Here we go again…Watch out when a person qualifies for a new trade or business under the education expense deduction rules! Santos, TC Memo 2016-100TC Memo 2016-100 The Tax Court has concluded that an accountant could not deduct his law … Continue reading →

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IRS ADDS FAQS ABOUT “GET MY PAYMENT” ECONOMIC IMPACT PAYMENT STATUS

Posted on May 23, 2020 by William Murphy

IRS website – Get My Payment Frequently Asked Questions (updated May 20, 2020) On its website, IRS has added to its FAQs regarding its “Get My Payment” website, which provides information about economic impact payments (EIPs) made under the Coronavirus … Continue reading →

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