The SBA and the Treasury announced that the Paycheck Protection Program (PPP) will re-open the week of January 11, 2021 for new borrowers and certain existing PPP borrowers.
Tax information from the IRS and shared by Vernoia, Enterline + Brewer, CPA LLC.
The Internal Revenue Service announced that the nation’s tax season will start on Friday, Feb. 12, 2021, when the tax agency will begin accepting and processing 2020 tax year returns.
The Internal Revenue Service released Notice 2021-11 addressing how employers who elected to defer certain employees’ taxes can withhold and pay the deferred taxes throughout 2021 instead of just the first four months of the year.
The Internal Revenue Service is reminding taxpayers that organizing tax records is an important first step for getting ready to prepare and file their 2020 tax return.
Starting tax year 2020, any business that pays at least $600 for services performed by a person who is not their employee is required to file the new Form 1099-NEC. Previously, nonemployee compensation was reported in Box 7 on Form 1099-MISC.
When people get ready to file their federal tax returns there are new things to consider when it comes to which credits to claim and what deductions to take. These things can affect the size of any refund the taxpayer may receive.
The IRS has a variety of resources to help small business owners, including veterans, understand their tax responsibilities. Small Business and Self-Employed Tax Center This page features links to useful tools and common IRS forms with instructions. Taxpayers can find help on topics such as starting or operating a business, recordkeeping, filing and paying taxes. …
The Internal Revenue Service (IRS) issued Notice 2020-75, which announces rules to be included in forthcoming proposed regulations.
Moving to protect business taxpayers from identity theft, the Internal Revenue Service announced that, starting Dec. 13, it will begin masking sensitive data on business tax transcripts.
The revised Form 941-X, Adjusted Employer’s Quarterly Federal Tax Return or Claim for Refund, allows employers to correct COVID-19 related employment tax credits and other tax relief related to COVID-19.