It is standard for companies to retain the best talent by incentivizing their employees. A good example is the popular sign-on bonus, which is typically given to new employees immediately after they accept to join the organization. The sign-on bonus is oftentimes offered on one condition – don’t quit the company within an agreed period or else you must... continue reading →
There has been an increasing trend of banks, landlords, and/or lenders asking self-employed individuals for letters from a CPA to verify, certify, vouch for, or attempt to estimate the applicant’s income. This income statement is then assessed by the lender when determining whether the loan should be approved. Some examples of requests (variable wording but roughly the same request)... continue reading →
Need help with your back taxes? We answer your questions. How many years back can I file my taxes? If I don’t file back taxes, how long before I get my current refund? How many years can you file taxes that are past due? Have you considered getting help with filing your taxes that are past their due date?... continue reading →
Here is how taxpayers can determine the present status of their tax refund: If you’re wondering about the status of your tax refund, use the Where’s My Refund? tool. You can access the tool easily either through the IRS2Go App or on IRS.gov. E-filed tax returns can be checked for a refund status within 24 hours. Timing of RefundsWhere’s... continue reading →
Covid-19 has affected many people, and because there was a need for support to the affected, the Taxpayer Certainty and Disaster Tax Relief Act was made a law on 27th December 2020. Section 206 of this Act grants an employer to take the employee retention credit regardless of whether they had received a protection program paycheck loan. The employers... continue reading →
As a taxpayer or business owner, you will need to do this each year to file your tax return and pay any necessary taxes. While this may sound dreadful for many taxpayers, there are options that you can take advantage of to make this process much more manageable. One of the things you should do is work with a... continue reading →
The IRS provides many resources to help military members, veterans, and their families file their taxes. Military filing can be complicated, so there is help out there. If you need tax help from a local expert contact us today. Here is a list of some helpful resources. There is a section on irs.gov that will have information for military... continue reading →
WASHINGTON – Today, the Internal Revenue Service and the Treasury Department will begin delivering a second round of Economic Impact Payments as part of the Coronavirus Response and Relief Supplemental Appropriations Act of 2021 to millions of Americans who received the first round of payments earlier this year. The initial direct deposit payments may begin arriving as early as... continue reading →
Clarity and the Due Date for the PPP Forgiveness Application There were quite a few people who felt somewhat uncertain regarding the PPP forgiveness application’s official due date. The positive news is that the team members at SBA rapidly took care of all questions. Applications can now proceed with all the confidence in the world. Application Due Date Uncertainty... continue reading →
On 28th August 2020, Treasury Guidance made public the Deferral of Employee Social Security Tax. The promulgated Treasury Notice 2020-65 by the Internal Revenue Service (IRS) and Treasury Department allows employers to defer holding back and payment of Social Security tax for all workers with bi-weekly wages below $4,000 or other equal figures subject to wage payment from 1st... continue reading →
