As 2020 winds down, it’s time for businesses to take stock of their tax situations and implement year-end tax planning strategies.
Unusual year steers year-end tax strategies
Interested in reducing your 2020 tax liability? There’s still time to take these year-end tax planning steps.
There may be relief from tax liability for “innocent spouses”
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.
Compare and contrast: How do the Republican and Democratic tax plans differ?
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.
2020 Q4 tax calendar: Key deadlines for businesses and other employers
With fall arriving, it’s time for businesses to start thinking about year-end tax strategies. It’s also time to think about the fourth quarter 2020 tax filing deadlines.
Tax implications of working from home and collecting unemployment
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.
Employers have questions and concerns about deferring employees’ Social Security taxes
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.
CARES Act made changes to excess business losses
If you hold an interest in a business, or may do so in the future, be aware that the CARES Act has made changes to excess business losses.
The IRS issues guidance on the executive action deferring payroll taxes
The IRS has issued guidance on the payroll tax deferral scheduled to begin on September 1. Here’s what it says.