With talk that Social Security funds will begin to be depleted in coming years, many people are interested in staying on top of the health of Social Security. Each year, the Social Security Board of Trustees issues its annual report on the current financial status of the Social Security program. In this video, Steve Goss, the [...]
It’s important to know whether the advance Child Tax Credit (ACTC) payments will affect any government benefits you may be receiving. The short answer is “no.” That’s because ACTC payments don’t count as income when a program is determining if you or anyone else is eligible for benefits or assistance. They also can’t use the payments [...]
In this week’s Wednesday episode (September 15, 2021) of the Town of Plymouth’s “COVID-19 Daily Update,” Heather delivers a "State of the IRS" report. In essence, the IRS is currently broken. Many taxpayers have been complaining about receiving numerous IRS notices but not having any access to IRS employees. In fact, the IRS is currently only [...]
Beginning July 8, 2021, and until September 30, 2021, or the exhaustion of $75 million in program funds as determined by the Commonwealth, employers may apply for reimbursement of the costs of providing emergency paid sick leave. This video will walk you through the application process for reimbursement of the costs of providing emergency paid sick [...]
This article was published by the IRS. The Internal Revenue Service has provided guidance on tax breaks under the American Rescue Plan Act of 2021 for continuation health coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA). Notice 2021-31 provides guidance for employers, plan administrators, and health insurers regarding the new credit available to [...]
