Month: June 2021

NEW CORONAVIRUS STIMULUS SIGNED INTO LAW, INCLUDES TAX BREAKS FOR INDIVIDUALS (March 12, 2021)

Dear Clients and Friends, President Biden has signed into law the new economic relief package.  This $1.9 trillion American Rescue Plan (ARP) provides a wide-array of tax-related benefits for individuals.  Here is a look at the final version of the key tax provisions: Recovery rebates (Cash “stimulus payments”) The new maximum payment is $1,400 per […]

NEW CORONAVIRUS STIMULUS SIGNED INTO LAW, INCLUDES TAX BREAKS FOR INDIVIDUALS (March 12, 2021) Read More »

IRS FORM 1099-NEC – NEW FORM!! – FILING DEADLINE JAN 31 (January 8, 2021)

If you’ve paid independent contractors in 2020, you’ll need to complete the new form 1099-NEC instead of a 1099-MISC. Businesses need to use this form if they made compensation payments totaling $600 or more to a nonemployee (independent contractor) during 2020.  Form 1099-NEC’s are due to the nonemployee and IRS by Jan 31 (just like

IRS FORM 1099-NEC – NEW FORM!! – FILING DEADLINE JAN 31 (January 8, 2021) Read More »

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