by Lisa Monk & Associates LLC | Jun 24, 2021 | Tax Tips and News
Most times, businesses pay their employees for the work they do, and set aside a portion of those wages to in turn, pay Uncle Sam. But what if the business has to pay someone who isn’t technically an employee? Enter nonemployee compensation. Form 1099-NEC, Nonemployee...
by Lisa Monk & Associates LLC | Jun 23, 2021 | Tax Tips and News
It’s said that the early bird gets the worm. Some early-bird taxpayers could see a real benefit from their promptness to file their taxes, and it’s worth more than mere worms. The legislative package known as the American Rescue Plan of 2021 was passed into law in...
by Lisa Monk & Associates LLC | Jun 19, 2021 | Tax Tips and News
The IRS announced that it is now also offering online tax information in Spanish, Chinese (simplified and traditional), Korean, Russian, Vietnamese, Haitian-Creole, and more. IRS.gov web pages have links to available translations on the right side, just below the...
by Lisa Monk & Associates LLC | Jun 18, 2021 | Tax Tips and News
The Internal Revenue Service has rolled out a new online tool that’s built to help families register for monthly Advance Child Tax Credit payments. The tool is tailored to the needs of families who are eligible for the advance payments, but don’t normally file an...
by Lisa Monk & Associates LLC | Jun 16, 2021 | Tax Tips and News
The American Rescue Plan (ARP) put some sweeping changes in place to help the U.S. tax code deal with the effects of the coronavirus pandemic. To help provide guidance to families and small business who might claim some of ARP’s major credits, the IRS has issued two...