PPP Archive
The IRS Owes You Money If You Have Paid Long Distance Phone Taxes
May 9, 2021
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TweetShareSharePin0 Shares The IRS Owes You Money If You Have Paid Long Distance Phone Taxes Source: Flickr The IRS has decided to give up the fight on an ongoing legal issue regarding taxes it has collected on long distance telephone services. Here is the scoop. The IRS Owes You Money If You Have Paid Long
IRS Owes You Money If You Paid Long Distance Phone Taxes
May 8, 2021
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TweetShareSharePin0 Shares IRS Owes You Money If You Paid Long Distance Phone Taxes Source: Flickr The IRS has decided to give up the fight on an ongoing legal issue regarding taxes it has collected on long distance telephone services. Here is the scoop. The IRS Owes You Money If You Have Paid Long Distance Phone
Payroll Taxes
May 8, 2021
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TweetShareSharePin0 Shares Payroll Taxes Source: Flickr If you have employees, you are responsible for payroll taxes. This is a term that lumps all the different forms of employment taxes into one category known as “payroll tax”. In reality, payroll taxes encompass Federal and state income tax withholding, social security and Medicare taxes (also known as
Small Employers Rejoice – IRS Simplifies Filings
May 7, 2021
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TweetShareSharePin0 Shares Small Employers Rejoice – IRS Simplifies Filings Source: Flickr On of the largest burden on very small employers is dealing with taxes. Fortunately, the IRS has taken a major step to reduce this burden. Quarterly Federal Tax Returns – Not! There are millions of small businesses that labor under the burden of filing
Plan Your Retirement In As Easy As 1 – 2 – 3 Using Financial Planning Software
May 7, 2021
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TweetShareSharePin0 Shares Plan Your Retirement In As Easy As 1 – 2 – 3 Using Financial Planning Software Source: Flickr Rather than spend your hard earned money hiring a financial planner or consulting with one, there are actually countless software programs that would help you in managing your finances. These programs are efficient tools for
Employment Taxes – Depositing With The IRS
May 6, 2021
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TweetShareSharePin0 Shares Employment Taxes – Depositing With The IRS Source: Flickr If your business has employees, you must pay employment taxes. The payment system can be a bit confusing, so this article discusses how to go about depositing employment taxes with the IRS. Depositing Employment Taxes To pay employment taxes, you must deposit the money
Expenses paid with 2020 PPP loans can be deducted on 2021 tax returns
April 23, 2021
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TweetShareSharePin0 Shares The IRS announced a safe harbor for certain businesses that received first-round Paycheck Protection Program (PPP) loans but did not deduct any of the original eligible expenses because they relied on guidance issued before the enactment of the Consolidated Appropriations Act, 2021 (CAA), P.L. 116-260, in December 2020. In Notice 2020-32 and Rev.
AICPA asks for guidance on S corp. and partnership PPP loan forgiveness
April 18, 2021
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TweetShareSharePin0 Shares Taxpayers urgently need guidance on Paycheck Protection Program (PPP) loan forgiveness issues, the AICPA has told the IRS, and the AICPA has made recommendations proposing solutions to those issues. The proposed solutions came in a letter sent March 15 from the AICPA Tax Executive Committee to two members of the IRS Chief Counsel’s
IRS extends penalty relief for pandemic payroll credits
April 16, 2021
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TweetShareSharePin0 Shares To continue to allow employers to take immediate advantage of various credits enacted in response to the COVID-19 pandemic, the IRS is permitting eligible employers who pay qualifying wages to retain an amount of the payroll taxes equal to the amount of qualifying wages that they paid, rather than deposit them with the
