There’s not much doubt that the COVID-19 pandemic has taken a strong labor market and turned it on its ear, producing a shortage of available workers.…
Read more about IRS Highlights Resources for Employers Facing Labor Shortages
Students and their higher-education institutions are getting a clearer picture of how to report pandemic-related emergency financial aid grants. Or not.…
Read more about Emergency COVID Aid to Students Deemed Not Taxable
The sweeping American Rescue Plan Act of 2021 may have greenlit the third round of economic impact payments, but it also includes changes to several tax credits—many of which were designed to provide relief to struggling Americans whose finances took a hit during the pandemic. One of those affected tax credits helps both employees and businesses: the employee retention credit, or ERC.…
Read more about Employee Retention Credit Updated by the American Rescue Plan
The dates for the 2021 Nationwide Tax Forum have been set. But before you start calling for airline tickets, the announcement from IRS Commissioner Chuck Rettig has some helpful advice about travel plans:…
The CPA Journal recently published the results of its “2020 Annual Survey of New York State Practitioners.” The survey asked more than 200 CPAs to answer questions about their practice, including how they would rate the tax preparation software and tax research software they used during the first filing season defined by the coronavirus pandemic.…
Read more about Drake Software Earns Highest Ratings in Survey of New York CPAs
Tax professionals across the country have undoubtedly served clients who lost health insurance due to layoffs, a reduction in work hours, or another issue stemming from the coronavirus pandemic. The one-two punch of reduced income and possible uninsured medical expenses can be devastating for these families.…
Read more about HealthCare.gov Special Enrollment Period Can Help Clients Get Insurance
Since the Coronavirus pandemic began, we’ve heard a lot about front-line health care workers and their risks. Now we’ve come to know that teachers face risks of their own.…
Read more about Educators Can Now Deduct Expenses for COVID-19 PPE
Small and midsize companies have been particularly hard hit over the past year by COVID-19. And while those employers been stretched to their limits by paying out large sums for sick leave and family leave due to the pandemic, some help is available.…
Read more about Employers Can Get Tax Credits for Providing Required COVID-19 Paid Leave
Ask most people what they thought of 2020, and the response is likely to be something like, “disastrous,” “catastrophic” — even “unprecedented.”…
Read more about Annual Report Finds IRS Rose to Challenges of an “Unprecedented” Year
A government audit says that allowing taxpayers to electronically correct their returns is more than just good customer service—it’s good business.…
Read more about Expansion of E-file Self-Correction Could Cut Taxpayer Hassle and Costs
