IRS Guidance on Q4 Removal of Employee Retention Credit
(authored by RSM US LLP) Employers need to react quickly to the new guidance to pay in amounts as if they were incurred on Dec. 31, 2021....
06 December, 2021
Covid Tax Tips Tag
IRS Clarifies Temporary Deductibility of Per Diem Meal Expenses
(authored by RSM US LLP) The IRS issued Notice 2021-63, clarifying previous guidance pertaining to the deductibility of food and beverages provided by a restaurant....
18 November, 2021
How to Repay Deferred Social Security Tax
Authored by the IRS, July 6, 2021 How Self-Employed Individuals and Household Employers Repay Deferred Social Security Tax The Coronavirus Aid, Relief, and Economic Security Act allowed self-employed individuals and household employers...
02 November, 2021
Tax Credits for Paid Leave – Updated Guidance
Authored by: W. Dale Westenskow, CPA, Haynie & Company Partner Paid sick and family leave tax credits Eligible employers can claim the credits for providing leave to employees to accompany a family...
01 September, 2021
IRS Delays in Refunds and Quarterly Payments
The IRS has millions of tax refunds on hold for manual processing and its systems were unable to process many of the April 15th quarterly payments. On April 22, 2021 National...
26 April, 2021
Paid Leave for Employees Impacted by COVID-19 in 2021
(authored by RSM US LLP) Some employers can give paid leave to employees impacted by COVID in 2021 and claim a payroll tax credit per the American Rescue Plan Act....
22 April, 2021
Claim Your Economic Impact Payments on Your 2020 Tax Return
One of the more tax-troubling issues this year is the distribution of what Congress refers to as the recovery rebates. You may know these payments as the Economic Impact Payments...
22 March, 2021
Are Your Unemployment Benefits Taxable?
Unemployment Benefits We've seen numerous changes to unemployment benefits throughout 2020 and 2021. Now, President Biden’s American Rescue Plan that Congress enacted in March of 2021 has extended the additional $300...
18 March, 2021