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The Consolidated Appropriations Act (CAA) and Retirement Benefits

The CAA includes many provisions addressing economic hardships caused by the pandemic. Here's what you need to know about the CAA and retirement benefits.
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The Cents-Per-Mile Rate for Business Miles Decreases Again for 2021

The Cents-Per-Mile Rate for Business Miles Decreases Again for 2021

You might claim a lower deduction for vehicle-related expenses for 2021. This is the second year in a row that the cents-per-mile rate has decreased.
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How Biden's American Rescue Plan Might Impact Your Taxes

How Biden's American Rescue Plan Might Impact Your Taxes

President Biden released his “American Rescue Plan” on January 14. It is a wish list of proposals to address the COVID-19 pandemic and economic crisis.
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Updated Guidance on the Employee Payroll Tax Deferral

In late January, the IRS updated Notice 2020-65. The update reflects the changed tax deferral rules contained in the Consolidated Appropriations Act (CAA).
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IRS Issues Final Regs on ICHRAs. Here’s What You Need to Know

The IRS has issued final regs that clarify the application of employer shared responsibility provisions under the ACA. The regs also address ICHRAs.
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New Form 1099-NEC and Revised 1099-MISC Deadline Are Approaching

New Form 1099-NEC and Revised 1099-MISC Deadline Are Approaching

Payers must complete Form 1099-NEC to report any payment of $600 or more to a recipient. Use Form 1099-MISC to report certain other payments to recipients.
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Didn’t Receive Your EIP? Claim It on Your 2020 Return

Didn’t Receive Your EIP? Claim It on Your 2020 Return

Congress called them recovery rebates. You may know them as the Economic Impact Payments (EIP).Didn't get yours? Claim it on your 2020 tax return.
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PPP Loans Have Reopened: Let’s Review the Tax Consequences

PPP Loans Have Reopened: Let’s Review the Tax Consequences

The SBA announced that the PPP reopened the week of January 11. Are you wondering about the tax consequences of PPP loans received during the pandemic?
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