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8 Best Practices to Help Your Business Avoid an IRS Audit
Your browser does not support the audio element. No business wants to receive an audit notice from the IRS. While some audits are random, many are triggered by inconsistencies, red flags, or errors in tax filings. By following best practices in tax compliance and...
2020 Individual Tax Filing and Payment Deadline has Been Extended
The Internal Revenue Service and the Treasury Department announced last week that due to ongoing financial hardships resulting from the pandemic, the federal 2020 individual tax filing and payment deadline has been extended to May 17, 2021. The previous deadline was...
How to Report Nonemployee Compensation for 2020
The IRS has released form 1099-NEC (Non-Employee Compensation) for reporting money a business pays to independent contractors. This new form will replace box 7 on the 1099-MISC form. Most businesses will have to file two separate forms, as employers will still need to...
