These days the IRS is investigating all types of fraud and getting serious about slapping fines on offenders. The IRS is now investigating domestic employment - their efforts are no longer limited to financial technology companies and unreported cryptocurrency transactions, false unemployment compensation claims, and PPP Loan fraud. Lately there has been a significant trend...
Are you a small business worrying how you will compensate folks for time off to get the COVID vaccine and pay them for leave if they have side effects from a 2nd shot that prevents them from working? Worry no more. Tax credits for paid leave for COVID vaccinations are available to organizations such as...
For now, the best way to find the status of your return and associated refund is to use the IRS' online Where's My Refund? tracking tool. Every tax season is challenging, but this one is worse because Congress has fiddled yet again with tax laws, and the IRS has had to respond with (often confusing) new...
Whether you were a senior manager, staff, or stakeholder in business last year, chances are you were out of work (even if only temporarily) and collecting unemployment. You were not alone. More than 23 million USA workers filed for unemployment in 2020. For the first time, some self-employed workers also qualified for unemployment benefits. The...
This is an update to a prior article written before the election and a Biden Presidency solidified the possibility for tax reform in 2021 or 2022. Many clients already made large gifts in 2020 to take advantage of the historically high gift and generation-skipping transfer (GST) tax exemptions, concerned that these exemptions could be significantly...
