Blog

29 Sep 20

READY FOR THE 1099-NEC?

Article Highlights: 1099-NEC Has Been Resurrected Non-Employee Compensation Combating Fraudulent Filings Due Dates Form W-9 Penalties 1099 Worksheet The Internal Revenue Service has resurrected a form that has not been used since the early 1980s, Form 1099-NEC (the NEC stands for non-employee compensation). This form will be used to report…
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10 Sep 20

DO YOU KNOW UNEMPLOYMENT BENEFITS ARE TAXABLE?

Article Highlights: CARES Act Unemployment Benefits States Taxation of Unemployment Will Unemployment Be Taxable? With the passage of the CARES Act stimulus package earlier this year, the federal government added $600 to the normal state weekly unemployment benefits and increased the number of benefit weeks to a total of 39.…
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02 Sep 20

SEPTEMBER 2020 INDIVIDUAL DUE DATES

September 1 – 2020 Fall and 2021 Tax Planning Contact this office to schedule a consultation appointment. September 10 – Report Tips to Employer If you are an employee who works for tips and received more than $20 in tips during August, you are required to report them to your…
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02 Sep 20

SEPTEMBER 2020 BUSINESS DUE DATES

September 15 – S Corporations File a 2019 calendar year income tax return (Form 1120-S) and pay any tax due. This due date applies only if you requested an automatic 6-month extension. Provide each shareholder with a copy of K-1 (Form 1120-S) or a substitute Schedule K-1. September 15 –…
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