IRS Sets Feb. 1 Deadline for W-2, 1099-NEC Forms; March 31 for 1099-MISC
For the upcoming tax season, employers that they must file Form W-2 and other wage statements by Feb. 1, 2021, to avoid penalties and help the IRS prevent fraud.
For the upcoming tax season, employers that they must file Form W-2 and other wage statements by Feb. 1, 2021, to avoid penalties and help the IRS prevent fraud.
The IRS has just reminded nonitemizers that they may be able to claim a special deduction for charitable contributions in 2020 (IR-2020-264, 11/25/20). But it failed to mention that married couples filing jointly may be penalized.
Many American taxpayers haven’t caught up with the latest changes in the redesigned W-4, which the IRS released a year ago, putting them at risk for an unexpected tax bill next April. In fact, nearly two in five (37 percent) American taxpayers admit they aren’t even familiar with the W-4, including 11 percent who say […]
The people in your firm will determine the success or failure of your business. They are your most important asset. Yet, a bad hire can drive away clients and poison morale. My team is important, and while I intentionally invest my time and money in ...
It’s customary to give to charity around the holidays at the end of the year. Not only does this benefit worthy causes, it can pay off with a bigger charitable deduction on your tax return.
Forget about it being your best shot at a medical deduction this year—it could be your last shot, depending on your personal situation. It all has to do with the threshold for deducting medical expenses.
The Internal Revenue Service, state tax agencies and the tax industry have announced an improved feature that will be available on all 2021 online tax preparation products.
In the wake of the 2020 election, many expect that the Biden administration will seek to engage Congress to enact new tax legislation in order to raise revenue to pay the costs associated with the pandemic and other government programs.