Heather appeared again in this week’s Tuesday episode (December 22, 2020) of the Town of Plymouth’s “COVID-19 Daily Update” to explain the ramifications of the new COVID-19 relief bill passed by Congress earlier this week. (UPDATE: President Trump has since asked Congress to review certain aspects of the bill before he will sign it into law.) [...]
This article was published by the IRS. There is a new Form 1099-NEC, Nonemployee Compensation for business taxpayers who pay or receive nonemployee compensation. Starting in tax year 2020, payers must complete this form to report any payment of $600 or more to a payee. Generally, payers must file Form 1099-NEC by January 31. For 2020 [...]
This article was published by the IRS. Before a natural disaster strikes, taxpayers are encouraged to prepare, if possible. This includes developing evacuation plans, putting together kits of essential supplies and putting financial safety measures in place. To help protect their financial safety in a disaster situation, taxpayers should: Update emergency plans. A disaster can strike [...]
This article was published by the IRS. Many businesses affected by COVID-19 qualify for tax relief though credits or deferrals. Here's a breakdown of which employers qualify for these new tax credits and the deferral of employment tax deposits and payments through December 31, 2020. Credits for paid sick and family leave Businesses and tax-exempt organizations [...]
This article was published by the IRS. Many businesses affected by COVID-19 qualify for tax relief though credits or deferrals. Here's a breakdown of which employers qualify for these new tax credits and the deferral of employment tax deposits and payments through December 31, 2020. Credits for paid sick and family leave Businesses and tax-exempt organizations [...]
