IRS update: How is the 1099 platform coming along?
There’s new information available for your finance team about the forthcoming 1099 platform for preparing and filing returns.
Accounting
Tech check! New lease accounting standard almost here
FASB’s lease accounting standard (ASC 842) will take effect for periods beginning after Dec. 15, 2021 (calendar year 2022) for private companies. Which means hopefully by now you’re in full-on preparation mode. But what technology route should you take to get – and keep – your company in compliance? Take a look at what your […]
IRS allows 100% deduction for certain food, beverages
Companies are getting a small break! IRS is temporarily letting businesses take a 100% deduction on food and beverages from restaurants.
New report highlights next updates you might see to IRS e-filing & more
The annual Purple Book from the National Taxpayer Advocate is here, and this year’s report contains several recommendations for the IRS to make changes that’ll impact your Payroll and Finance teams. Many of the suggested updates deal with e-filing returns, making tax payments online and penalties. They could reduce red tape and save you big […]
PPP Round 2 loans open for business! Can you take advantage? UPDATED
NEW: The just-enacted PPP Extension Act of 2021 gives employers a two-month extension to apply for both Round One and Round Two draws on PPP loans. You now have until May 31 to submit an application. Recently, the American Rescue Plan Act had expanded the program but not the timetable. This latest development changes that. […]
IRS proposes rule regarding federally declared disasters
A proposed rule would make things a little easier for finance teams whose duties get impacted by federally declared disasters.
First U.S. state adopts tax on digital advertising services
Does your company rely on digital advertising services? There’s an escalating tax trend that employees should be aware of.
Two business tax warnings come straight from IRS
IRS has doled out two business tax warnings, both about things companies should be doing and things they shouldn’t. This tax season, IRS is putting businesses on notice with some not-so-subtle reminders about compliance issues. Take a look at the latest updates to ensure your company steers clear of penalties — or even audits — […]
Spring unclaimed property deadlines are coming up
There’s no rest in Finance! For some companies, the next few months bring important spring unclaimed property reporting deadlines.
