The IRS has announced its 2021 cost-of-living adjustments to tax amounts that might affect you. Many increased to account for inflation, but some remained at 2020 levels. As you implement 2020 year-end tax planning strategies, be sure to take these 2021 adjustments into account in your planning. Also,…more
As 2020 winds down, it’s time for businesses to take stock of their tax situations and implement year-end tax planning strategies.
In some cases, a married couple files a joint tax return and one spouse doesn’t disclose all of his or her income. The IRS goes after the other spouse for payment. But there may be “innocent spouse” relief.
Even though taxes may not be the hottest topic of the upcoming presidential election, it’s worth your while to learn about each candidate’s tax proposals.
Have you lost your job and collecting unemployment? Or are you fortunate to be working from home because of the pandemic? Both of these situations could have tax implications.
The IRS has issued guidance to implement the deferral of the employee share of Social Security tax. But employers still have questions and concerns about whether, and how, to implement the deferral.