IRS Calls For a Time Out on Employee Retention Credit
Last month, the IRS announced that they would put the Employee Retention Credit on hold while they worked to minimize fraud from it
Fringe Benefits Become an “Audit Focus”
As part of last year’s Inflation Reduction Act, the IRS is ramping up enforcement, including increased scrutiny of fringe benefits
IRS Delays Online Payment Reporting Changes
The IRS decided to delay implementation of new online payment reporting rules for a year…here’s the lowdown!
#TuesdayTips: Are You Truly Ready for W2s?
It’s the end of the year and almost time to send W2s – have you verified the information yet?
IRS Standard Mileage Rate Increase
The IRS announcement on June 9 was a frank and startling admission by the US government that gas prices really are out of control: they would be increasing the standard mileage rate deduction for the second half of 2022. While not completely unprecedented, this move is a little surprising. It’s Not Every Day Generally speaking, […]
What the WOTC?
“I love paying taxes!”…said no business owner ever. Seeing as how many of these business owners are in the midst of filing their taxes, I thought this would be an ideal time to give a synopsis of one of my favorite topics: Work Opportunity Tax Credits. In my years in the human capital management industry […]
1099 vs W2 – What’s the Difference & Why Does It Matter?
So, you’re looking to hire your first employee? Congrats! This a huge step for any business owner, but it also begs the question, ‘Is my new-hire a W2 employee, or a 1099 independent contractor?’ With many business owners, they have no clue what the difference is between W2 or 1099, which is not at all […]