This article was published by the IRS. Taxpayers who receive Forms 1099-G for unemployment benefits they did not actually get because of identity theft should contact their appropriate state agency for a corrected form. States issue Forms 1099-G to the taxpayer and to the IRS to report what taxable income, such as refunds or unemployment benefits, [...]
In an effort to keep our clients, office staff, and their families as safe as possible, we have made changes to how we will operate this tax season. In general, while we miss seeing our clients in person, we will be limiting in-person interactions as much as possible and will be relying on Zoom for meetings [...]
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 [...]
In this week’s Monday episode (June 8, 2020) of the Town of Plymouth’s “COVID-19 Daily Update,” Heather reported that the much-awaited PPP legislation was finally passed. Between the House and the Senate, there was only one individual who dissented. Small businesses should be encouraged that the government is working hard to provide them with much-needed relief. [...]
The following article was published by the IRS. Employers and other businesses should remember that wage statements and independent contractor forms still have a January 31 filing deadline. Before the Protecting Americans from Tax Hikes (PATH) Act, employers generally had a longer period of time to file these forms. But the 2015 law made a permanent [...]
