How Fraudsters Steal Unemployment Benefits
When Congress authorized an additional $600 in monthly unemployment benefits as part of the CARES Act, out-of-work Americans weren’t the only ones it helped. Criminals have descended […]
Why is Partner Taxable Income Different than Cash Received
If you’re a partner in a business, you may have come across a situation that gave you pause. In a given year, you may […]
Bartering is a Taxable Transaction
During the COVID-19 pandemic, many small businesses are strapped for cash. They may find it beneficial to barter for goods and services instead of […]
Protect Customer Data When Working Virtually
With cyberthieves active during COVID-19, the Internal Revenue Service and its Security Summit partners today urged tax professionals and other […]
Crime Has Adapted to COVID-19
Unlike some legitimate businesses, organized crime enterprises can be expected to weather the current COVID-19 crisis. In fact, with millions of Americans now working […]
Make Sure Your Withholding is Adequate
Did you recently file your federal tax return and were surprised to find you owed money? Make sure your withholding is adequate so that this doesn’t happen […]
Possible Tax Consequences of PPP Loans
If your business was fortunate enough to have applied for, and received a loan under the Paycheck Protection Program (PPP) in connection with the COVID-19 crisis, you […]
What the Payroll Tax Deferral Means for Your Business
On August 8, 2020, President Trump signed four executive actions, including a Presidential Memorandum to defer the employee’s portion of Social Security taxes for some people. These […]
IRS Issues Fact Sheet on Reportable >$10,000 Cash Transactions
(Image copyright belongs to Serge Averbukh)
In Fact Sheet 2020-11, the IRS has presented a series of examples […]
New FAQs Address PPP Loan Forgiveness Issues
The U.S. Small Business Administration (SBA), in consultation with the Department of the Treasury, released guidance on 8/4/2020 answering 23 frequently asked questions (FAQs) regarding the forgiveness of Paycheck […]
