This article was published by the IRS. By law, business taxpayers who pay nonemployee compensation of $600 or more must report these payments to the IRS. They do this using Form 1099-NEC, Nonemployee Compensation. Generally, payers must file Form 1099-NEC by January 31. For 2021 tax returns, there is no automatic 30-day extension to file Form [...]
This article was published by the IRS. No one can fully prepare for a disaster, but knowing what resources are available beforehand can make the recovery a little easier. Here's a list of resources that taxpayers might find helpful before and after a disaster: Tax relief in disaster situations — This page features links to disaster [...]
The IRS Small Business Tax Workshop is a series of online training videos, covering tax topics for new and established small business owners. The first four topics in the workshop cover federal taxes, Schedule C, filing and paying taxes electronically, and business use of your home – no matter the type of business you have or [...]
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 [...]
This article was published by the IRS. During National Small Business Week, the Internal Revenue Service wants small business owners to know that information and resources to help them understand and meet their tax obligations are available free at IRS.gov. Small businesses play a pivotal role in our nation's economy. The IRS has a variety of [...]
