Summer Tax Events

2020 – 12/30 When determining whether to classify a worker as an employee or an independent contractor, the IRS and the courts look at several factors. They include: 1) the degree of control exercised by the business over the work details; 2) which party invests in the facilities used in the work; 3) whether the…

2021 – 09/15 The U.S. economy has been nothing short of a roller-coaster ride for the past year and a half. Some industries have had to overcome seemingly insurmountable challenges, while others have seen remarkable growth opportunities arise. If your business is doing well enough for you to consider adding a location, both congratulations and…

2021 – 03/12 The American Rescue Plan Act (ARPA), which was signed into law on March 11, extends the Employee Retention Credit from June 30 until Dec. 31, 2021. The law continues the rate of the credit at 70% for this extended time period. It also continues to allow for up to $10,000 in qualified…

2021 – 01/08 About 8 million second Economic Impact Payments (EIPs) are being sent to taxpayers via prepaid debit card this week, according to the IRS. The mailing of the cards follows the distribution of ”millions of payments already made” by direct deposit and the mailing of paper checks, the tax agency said. Those who…

2019 – 10/23 The IRS has been making strides fighting identity theft, and it’s urging the public to do the same. Protecting personal information while using the Internet should be a priority for families and teens, the tax agency says. It recently offered some commonsense tips for online safety. For example, parents should teach their…