The U.S. House of Representatives and U.S. Senate passed the Consolidated Appropriations Act, 2021 (bill), a massive tax, funding, and spending bill that contains a nearly $900 billion coronavirus aid...

The government’s annual cost-of-living adjustments (COLA) for 2021 have been announced by the Internal Revenue Service (IRS) and the Social Security Administration (SSA). The COVID-19 pandemic’s continuing...

The Small Business Administration (SBA) and the Treasury Department recently released an interim final rule entitled, “Treatment of Owners and Forgiveness of Certain Non payroll Costs.” This rule addresses...

On Wednesday evening, the Senate cleared changes to the popular Paycheck Protection Program that will allow small businesses more flexibility in using the rescue loan funds, and it was quickly signed into...

If you have a small business or are self-employed, and have engaged in certain financial transactions during the calendar year, you are most likely required to file an information return to the IRS. Below...

This tax season, the IRS has announced that they are gradually rolling out a new identity protection program that prevents anyone who has stolen your Social Security number from using it to file a...

Last tax season, many taxpayers found it to be more beneficial to take the standard deduction and forgo itemized deductions due to tax law changes. Then again, some felt their expenses exceeded standard...

Where did 2019 go? It feels like we just finished filling out our 2018 tax returns and now it’s almost time to do the same for 2019. Are you ready? Is your business? To help you begin planning for tax...