The global coronavirus pandemic has changed every single facet of our world – from the way we work to how we live our day-to-day lives – and we have been forced to quickly adjust to a new normal. Unfortunately, there are those out there who seek to take advantage of this turbulent time. The Internal…

Read More

Some Are Being Mistaken as Junk Mail and Thrown Out  Article Highlights: Junk Mail Stimulus Payment Debit Card If you are like most Americans, you receive tons of junk mail, which you tend to discard without ever reading. Well, if you haven’t already received your stimulus payment from the feds, maybe you shouldn’t be so…

Read More

We are still waiting for the dust to settle on what President Trump’s executive orders mean for taxpayers and business owners. There is a lot of talk about legal challenges and how Congress may react. But here is a summary of what we know now. Temporary Payroll Tax Relief The President has directed the Treasury…

Read More

The economic uncertainty created in the outset of the Coronavirus pandemic was unprecedented, to say the least. This is a big part of the reason why, soon after the spread began, Congress took steps that were equally drastic – they passed the Paycheck Protection Program, otherwise known as the PPP, in an attempt to help…

Read More

Article Highlights: Loan Application Period Extended Paycheck Protection Program Qualifying Expenses Loan Forgiveness If you missed the opportunity to apply for a Paycheck Protection Program (PPP) loan before the program expired at the end of June, you have another chance. Congress has overwhelmingly voted to extend the application period for a PPP loan through August…

Read More

Form W-2 is an annual payroll report that shows the amount of taxes withheld from the employees’ paycheck for the year and is used to file federal and state taxes. As 2019 draws to a close, it is important for all the employers to issue Form W-2 to their employees without any delay so they…

Read More

A Control Number (box D) is used by many payroll departments to uniquely identify a W-2 in their system. If your W-2 doesn’t have one, it’s no big deal. You can simply leave it blank. If you get errors when attempting to e-file with an empty box D, just enter any number in this format:…

Read More

Effective with returns due after January 1, 2016, penalties for not filing correct information returns and/or not furnishing correct payee statements have increased and are now subject to inflationary adjustments. Examples of affected forms include: Forms 1098, 1099, W-2G and W-2. The amount of the penalty is based on when you file the correct information…

Read More