The Consolidated Appropriations Act, 2021 (CAA) is a $2.3 trillion spending bill that combines $900 billion in stimulus relief for the COVID-19 pandemic in the United States, with a $1.4 trillion omnibus spending bill to fund the operation of. Read More >>

The Consolidated Appropriations Act, 2021 (CAA, 2021) passed Congress on December 21, 2020, and is awaiting the President’s signature. The CAA is 5,500 pages that touch on many areas of tax law, and additional changes could occur as the. Read More >>

The IRS has reintroduced Form 1099-NEC to help clarify the separate filing deadlines on Form 1099-MISC. Companies that make payments to nonemployee service providers and vendors could face a challenging Form 1099 reporting season for 2020 because of this. Read More >>

Year-end tax planning is always challenging, but President-Elect Biden entering the White House along with the coronavirus pandemic have added a whole new layer of complexity to the equation. The balance of power in the Senate will be determined. Read More >>

We previously reported back in May that the IRS issued Notice 2020-32, stating that expenses related to forgiven Paycheck Protection Program (PPP) loans would not be deductible. This created much uncertainty as to how those rules would apply under. Read More >>

It’s been more than two years since the Tax Cuts and Jobs Act of 2017 was passed with stricter limitations on business meals and entertainment expenses. Our previous advisor from November 2018 noted the confusion with respect to separating. Read More >>

This week, the IRS announced the 2021 cost-of-living adjustments (COLAs), which impact retirement plans for more than 67 million Americans. In addition, the Social Security Administration announced the 2021 social security wage base will be $142,800, which reflects a. Read More >>

Remember the payroll tax deferral for employers we talked about a few months ago? In early August, President Trump signed a few executive orders to help people who are struggling financially, including payroll deferrals for employees. The Order says. Read More >>

The Internal Revenue Service (IRS) has been experiencing several delays and other issues in connection with processing tax returns and payments. Below we’ve highlighted guidance around some of the more common items that our clients are experiencing related to. Read More >>

There have been several changes to Required Minimum Distribution (RMD) rules this past year. When the Setting Every Community Up for Retirement Enhancement (SECURE) Act passed last December, it changed the age limit for RMDs from age 70 ½. Read More >>