Now that the new tax bill has passed both the house and senate, we have a few days left before the end of the year for strategic tax planning.
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Businesses that attempt to gain healthcare coverage for their employees via ACA exchanges are risking severe penalties, up to $36,500 per year per employee according to a recent IRS ruling. Some employers had hoped to reduce their health care costs by allowing their employees to purchase individual coverage on the ACA exchanges and then reimbursing […]
A few days ago, I came across the article linked below regarding IRS notices many small businesses are receiving regarding potential income under-reporting. The gist of it is that credit card processing companies are now required to issue Forms 1099-K to businesses that accept credit and debit cards as a form of payment. The forms report […]
The IRS announced on October 22nd that the start of the 2014 tax filing season would be delayed by one to two weeks as a result of the 16 day federal government shutdown. Originally the start of the filing season had been planned for January 21st, 2014, but now the IRS plans to begin accepting […]
The IRS has announced that, as part of a number of functions which are suspended during the federal government shutdown, federal income tax refunds will not be issued during the lapse in appropriations. The nation’s tax law remains unchanged however, so taxpayers should continue to file and pay their taxes according to the normal schedule. […]
The deadline for reporting wages paid to your employees in 2012 is January 31st. If you need help preparing your annual payroll reporting forms please contact us. January 31st is also the due date for filing Forms 1099 and 1096. We can also assist with the preparation of those forms.