Hey Compliance Warriors! The Treasury Department and the Internal Revenue Service today launched the Employee Retention Credit, designed to encourage businesses to keep employees on their payroll. The refundable tax credit is 50% of up to $10,000 in wages paid by an eligible employer whose business has been financially impacted by COVID-19. Read on…
Tag: IRS
Hey Compliance Warriors! I know we’re all huge fans of the IRS and the flaming hoops they have us jump through each year to file our taxes. With tax season upon us, here’s a reminder article that may help out. Read on… Article Via: kilpatricktownsend.com “The Internal Revenue Service (IRS)’s Office of Chief Counsel recently […]
Hey Compliance Warriors! IRS has released their “Fiscal Year Return Projections for the United States, Fall 2019 Edition.” Here’s one of the big projections. Read on…
Hey Compliance Warriors! Keeping good records is always important. However, it’s especially important when corresponding through mail with the IRS. Here is why. Read on…
Hey Compliance Warriors! Here’s some great guidance from the IRS clarifying meal deductions on your taxes when pertaining to business. Read on…
Hey Compliance Warriors! The IRS has put out their revised employee benefit plan for 2018. You’ll be able to see the changes from 2017 in the charts below. Read on…
Hey Compliance Warriors! With the Revenue Procedure for 2018 there are some changes to HSA maximum contribution limit and others. Read on for the details…
Article via http://www.mondaq.com "The IRS has recently begun enforcing the “employer shared responsibility” (ESR) provisions of the Affordable Care Act (the "Act"), which require employers having 50 or more full-time employees (or full-time equivalent employees) to offer health insurance coverage to eligible employees and their dependents. Failure to offer qualifying coverage as required by the Act [...]
The IRS is informing all small business owners of the possible eligibility you may have for the Small Business Health Care Tax Credits, which can give you more room to breathe, amongst other Small Business taxes you already pay. Your first question may be: How will this help my small business?