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A new $600 reporting threshold for IRS Form1099-K involves payment networks like Venmo, PayPal, Amazon, Square, and Cash App. Did you get paid more than $600 in 2022 for goods or services through a third-party payment network like Venmo,...
The American Rescue Plan Act of 2021 is intended to combat the economic and health impacts of the COVID-19 pandemic but within this $1.9 trillion stimulus package is a provision that will spell significant change for third-party settlement organizations...
The Internal Revenue Service is conducting an “ongoing, extensive investigation involving substantial IRS resources” into cryptocurrency holders. As part of that investigation, the IRS is serving “John Doe” summons on various cryptocurrency companies, seeking court orders to require cryptocurrency...
WASHINGTON – The Internal Revenue Service announced today that the third round of Economic Impact Payments will begin reaching Americans over the next week. Following approval of the American Rescue Plan Act, the first batch of payments will be...
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...
WASHINGTON – The IRS released today an early draft of the instructions to Form 1065, U.S. Return of Partnership Income, for tax year 2020 (filing season 2021) that include revised instructions for partnerships required to report capital accounts to...
WASHINGTON— This week, Treasury and the IRS are starting to send nearly 4 million Economic Impact Payments (EIPs) by prepaid debit card, instead of by paper check. EIP Card recipients can make purchases, get cash from in-network ATMs, and...
Date: 5/15/20 Time: 9:00 AM – 12:00 PM (EDT) Status: Open Registration Deadline: 5/14/20 4:00 PM (EDT) Fee: No Fee Point of Contact: Shippensburg Univ. SBDC (717) 477-1935 Location: This course will be provided as a webinar. Shippensburg PA...
For additional questions regarding the Economic Impact Payments visit our Economic Impact Payments Information Center. Here is what you need to know about your Economic Impact Payment (EIP). For most taxpayers, payments are automatic, and no further action is needed....
If you had our fees taken out of your refund then you need to read this: Will Refund Advantage be getting Economic Impact Payments? The IRS has stated that they will be distributing Economic Impact Payments directly to individuals....
Filing for unemployment, loans, or even waiting for a stimulus check? Accountants have some advice for you.
Check your stimulus check here
Governor Tom Wolf announced today the Pennsylvania Department of Labor & Industry (L&I) is implementing new federal unemployment compensation benefits provided by the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The COVID-19 relief package temporarily provides an additional $600...
Friday is the last day businesses can apply to be considered life-sustaining by state authorities, officials announced. The designation allows businesses to operate their physical locations during the coronavirus pandemic. Officials from the state Department of Community and Economic...
If you haven’t filed federal taxes for 2018, do that right now The IRS said if you haven’t filed your 2018 federal taxes, that could affect your stimulus check and recommends that anyone who hasn’t filed a 2018 tax return...
Outsourcing is a growing trend with seemingly countless benefits. Typically, responsibilities such as accounting and financial decision-making, marketing, and programming will be among the first that businesses make the decision to outsource. By delegating these tasks to experts, your...
Everyone should check their withholding by doing a Paycheck Checkup ASAP, even if they did one in 2018. The federal income tax is a pay-as-you-go tax. This means that taxpayers pay the tax as they earn or receive income...
IRS offers taxpayers convenient, secure ways to pay their taxes throughout the year. Taxpayers can pay: Online By phone With their mobile device using the IRS2Go app Additionally, some taxpayers must make quarterly estimated tax payments throughout the year....
Small business owners should keep good records. This applies to all businesses, whether they have a couple dozen employees or just a few. Whether they install software or make soft-serve. Whether they cut hair or cut lawns. Keeping good...
