For Business – Page 58 – Fiducial Blog

Form 1099-NEC Is Coming--Here’s What You Need to Know

October 16, 2020

The IRS has resurrected the Form 1099-NEC (non-employee compensation). With this form, you may report non-employee compensation in place of the 1099-MISC.

Excess Business Losses Find Change in the CARES Act

October 14, 2020

The CARES Act made changes to excess business losses. This includes retroactive changes and opportunities for businesses to file amended returns.

DOL Revises FFCRA Rules on Paid Sick and Family Leave

October 9, 2020

A federal trial court invalidated provisions of the DOL’s temporary regulations. These regulations affected the paid leave provisions of the FFCRA.

Tax Penalties Can Add Up--Ask Fiducial How to Avoid Them

October 7, 2020

Most taxpayers don’t mean to incur tax penalties. Many are not aware of the penalties or their impact. Let’s look at some penalties and how to avoid them.

Foreign Account Reporting (FBAR) Due October 15

October 5, 2020

Failure to file the required FBAR forms can result in severe penalties. The due date for foreign account reporting (FBAR) is October 15, 2020.

October's Extended Due Date Is Fast Approaching (And So Are Penalties!)

September 30, 2020

Did you complete your 2019 return by July 15? If not, and you filed a request for more time, that extended due date expires October 15, 2020.

COVID-19 Testing, Diagnostics Not Minimum Essential Coverage

September 28, 2020

The IRS has news regarding COVID-19 testing and diagnostics. Medicaid coverage limited to COVID-19 services does not qualify as minimum essential coverage.

Employers Should Approach Payroll Tax Deferral Cautiously

September 21, 2020

President Trump signed an executive memo on August 8 for a payroll tax deferral. It creates uncertainty re: administrative compliance and long-term impact.