The IRS announced that they are sending 500 series of balance-due notices to taxpayers after they were paused in May because of the pandemic. Because of a backlog of notices, due to the IRS furloughing employees, the IRS temporarily suspended…
Businesses that received a Paycheck Protection Program (PPP) loan of $50,000 or less can now take advantage of a simpler loan forgiveness application according to the U.S. Small Business Administration and the Treasury Department. PPP lenders are also provided additional…
What is a Marketplace Facilitator? If you sell products online using marketplaces like Etsy, Amazon or any delivery services such as Door Dash or UberEats, you should be aware of the complexities this causes when it comes to collecting and…
IRS audit rates are historically low, according to the latest data, but that’s little consolation if your return is among those selected to be examined. But with proper preparation and planning, you should fare well. In fiscal year 2019, the…
If you’ve answered your phone only to hear an automated voice simulation that attempts to sound like a real person or if you’ve noticed fake Caller ID profiles (Caller spoofing), you may have been the target of a vishing scam.…
If you’re getting close to retirement, you may wonder: Are my Social Security benefits going to be taxed? And if so, how much will I have to pay? It depends on your other income. If you’re taxed, between 50% and…
Just as other American businesses are struggling to stay open, the IRS too faces many of the same challenges. Managing a virtual workforce, social distancing, live telephone and online assistance to taxpayers are notable examples of how COVID-19 is impacting…
COVID-19 is changing the landscape for many schools this fall. But many children and young adults are going back, even if it’s just for online learning, and some parents will be facing tuition bills. If your child has been awarded…
Finding resources for COVID-19 relief programs can be overwhelming. Many states provide information on their websites about programs they have made available for their resident businesses. If you operate a business in Kansas or Missouri, you’ll find the latest information…
If your business was fortunate enough to get a Paycheck Protection Program (PPP) loan taken out in connection with the COVID-19 crisis, you should be aware of the potential tax implications. PPP basics The Coronavirus Aid, Relief and Economic Security…