COVID-19 has impacted Flexible Spending Accounts. Be sure you take advantage of these changes if they apply to you. The Consolidated Appropriations Act, 2021 provides that employers may adopt certain temporary rules to assist employees enrolled in health or dependent...
With the April 15 tax filing deadline right around the corner, here are answers to some common tax questions. When will I get my refund?The pandemic and additional stimulus payments will, in all probability, delay refund payments. But as of now here are the old wait...
No one likes surprises from the IRS, but they do occasionally happen. Here are some examples of unpleasant tax situations you could find yourself in and what to do about them. An expected refund turns into a tax payment.Nothing may be more deflating than expecting to...
Closing a business is always a difficult decision regardless of the circumstances. With this in mind, the IRS redesigned the closing a business page of IRS.gov to help business owners navigate the federal tax steps when closing a business. Small businesses and...
Does your paycheck look a little higher than normal? If so, it could be a tax trap. The Problem A payroll tax holiday effective September 1 was recently signed via presidential executive order. Payroll tax holidays typically provide forgiveness of Social Security and...
Marriage changes a lot of things and taxes are on that list. Newlyweds should know how saying “I do” can affect their tax situation. Here’s a checklist of items for newly married couples to review: Name and address changes - Name. When a name changes through marriage,...
