Taxes
IRS Gives Safe Harbor to SMBs to Claim Deductions for PPP Loans
With the Dec. 27, 2020, enactment of the Consolidated Appropriations Act, 2021, businesses now may claim these deductions even though they received PPP loans to cover original eligible expenses. These businesses can use the safe harbor provided by this...
Virtual Sessions Announced for TaxCon 2021
The National Association of Tax Professionals (NATP) announced its list of over 25 sessions that will be featured in the association’s second-annual TaxCon virtual education event, taking place Aug. 24-26, 2021. TaxCon includes many aspects attendees enjoy about live events, like one-on-one interaction with instructors, attendees and even exhibitors live throughout the event. All sessions […]
Florida Enacts New Sales Tax Laws Impacting Nexus and Marketplace Facilitators
Out-of-state sellers and marketplace providers will have to start collecting Florida sales and use tax on July 1, 2021. After years of discussion and failed attempts, Florida has enacted an economic nexus and marketplace facilitator law.
IRS Has Sent Stimulus Payments to More than 130 Million Americans
This brings the total disbursed so far to more than 130 million payments worth approximately $335 billion.
New York State Legalizes Recreational Marijuana
Adults over 21 will also be allowed to grow marijuana at home. It will be a while before legal sales begin or plants are allowed to grow as the newly-created Office of Cannabis Management is formed and finalizes rules and regulations.
IRS Says Taxpayers Should Not File Amended Tax Returns Due to Stimulus Law
The IRS is strongly urging taxpayers to not file amended returns related to the new provisions in ARPA or take other unnecessary steps at this time.
College Students Warned of IRS Scam
Taxpayers who believe they may have provided identity thieves with this information should consider immediately obtaining an Identity Protection PIN. This is a voluntary opt-in program. An IP PIN is a six-digit number that helps prevent identity ...
With Ability to Work Remotely, More New Yorkers Migrating to Sunny South Florida
Spurred by high taxes, out of state newcomers are settling down in South Florida as employers allow — or even encourage — remote work, according to various real estate agents in the tri-county area. Most of the newcomers are heading down from the northeas