The employee retention credit (“ERC”) is designed to encourage employers to keep workers on their payroll and support small businesses and nonprofits during the...Read More
Certain section 501(c)(6) organizations are now eligible for Paycheck Protection Program (PPP) loans under the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues...Read More
The PATH Act (Protecting Americans from Tax Hikes Act) required that payments for services in 2017 be reported on Form 1099-MISC by January 31...Read More
The U.S. Department of Labor (DOL) proposed a rule on September 30, 2020 that would make labor unions provide more information in their annual...Read More
On August 28, 2020, the Internal Revenue Service (IRS) issued Notice 2020-65 to provide needed guidance on an Executive Order issued by President Trump...Read More
On March 6, 2020, the Office of Labor-Management Standards (OLMS) published a final rule establishing a Form T–1, Trust Annual Report that requires annual...Read More
Rev. Proc. 2020-08 reflects updated procedures for submission On Jan. 31, 2020, the Internal Revenue Service (IRS) released the revised electronic Form 1023, Application...Read More
The optional standard mileage rates for business use of a vehicle will decrease slightly in 2020 after increasing significantly in 2019, the IRS announced...Read More
In 2018, the Internal Revenue Service (IRS) made drastic changes to Form 1040, U.S. Individual Income Tax Return. It eliminated 50 lines on the...Read More
On July 1, 2019 President Donald Trump signed the Taxpayer First Act, which requires tax-exempt organizations to file all Form 990 series returns electronically,...Read More
