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Q&A on the Advance Child Tax Credit Payments
There are a lot of questions swirling around about the advance Child Tax Credit, so we wanted to answer a few of them here. If you have further questions, or […]
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Treasury Encourages More IRS Investment
The Treasury Department recently released a statement discussing investment in the IRS and improving tax compliance. While roughly 99 percent of the taxes due on wages are remitted to the […]
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Unemployment Tax Refunds on the Way
The IRS announced that it had started issuing refunds to eligible taxpayers who paid taxes on 2020 unemployment compensation that was excluded from taxable income by the recently enacted American […]
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Other Rescue Benefits Outside of Stimulus Checks
When you think back on this spring, you may recall a deposit to your bank account by the federal government (if you were eligible). Economic Impact Payments were a focal […]
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Keep These 3 Things in Mind After Filing Your Tax Return
Regardless of when your return is filed, and that date keeps moving from year to year it seems, here are three things to keep in mind. You can check on […]
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Amounts Paid for COVID-19 PPE Are Deductible Medical Expenses
The IRS recently issued guidance clarifying that amounts paid for personal protective equipment (PPE)—such as masks, hand sanitizer and sanitizing wipes—for the primary purpose of preventing the spread of the […]
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PPP Loan Updates and Latest News
We’ve written a lot about the PPP loans and tried to keep you abreast of what you need to know about them as new information was available. With the second […]
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Restaurant Revitalization Fund is Nearly Gone
One of the most talked about portions of the American Rescue Plan Act that was passed earlier this year is the $28.6 billion restaurant Revitalization Fund (RRF). It was created […]
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Can you Benefit from the Enhanced Employee Retention Credit?
Many businesses have had to shut down or reduce operations during the COVID-19 pandemic, causing widespread furloughs and layoffs. Fortunately, employers that have managed to keep workers on payroll may be […]
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Remember: Social Security is Taxable
Whether you’ve filed your 2020 tax return or soon will, you don’t want any surprises. One thing that often takes many older people by surprise is getting taxed on their […]
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How Workers are Classified is Important
It is probably no surprise to you or anyone with a pulse that many companies experienced “workforce fluctuations” in 2020. If your business has turned independent contractors to address staffing needs, […]
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Bipartisan Support for Tax Breaks to Promote Manufacturing
Strengthening tax breaks to promote manufacturing in the US received strong bipartisan support at a Senate Finance Committee hearing on March 16. Creating new incentives, and making temporary ones permanent, […]
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