Processing Delays and Backlogs at the IRS

The pandemic shutdown in 2020, staffing shortages, budget limitations, and numerous tax law changes have converged to cause a snowball effect on the IRS’s ability to process returns in a timely manner. Both taxpayers and tax professionals have been heavily impacted for the last couple of years,

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IRS Letter About Advanced Child Tax Credits

The IRS announced that it will be sending out letters to everyone who received advance Child Tax Credit payments. Please be on the lookout for this letter and DO NOT throw it away. IRS Letter 6419 will go out January 19, 2022.  It will show the total

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Employee vs Contractor Classification: The Possible Impact of The American Rescue Plan Act of 2021 – 1099-K Reporting on $600 Cash Applications (CashApp, Venmo, PayPal, etc.)

Section 530 of the Revenue Act of 1978 (“section 530”) generally allowed a taxpayer to treat a worker as not being an employee for employment tax purposes (but not income tax purposes), regardless of the worker’s actual status under the common-law test, unless the taxpayer had no

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Advance Child Tax Credit Monthly Payments Are On the Way

Beginning July 15th, nearly all working families will automatically receive their Monthly Child Tax Credit Payments, but here’s some information about this substantial tax relief, who qualifies, and how much to expect in the coming months to make sure you don’t leave any money on the table.

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Shuttered Venue Operators Grant Program

Finally, the Small Business Administration (SBA) is about to open the application portal for the long-awaited Shuttered Venue Operators Grant (SVOG) Program, which is designed to help entertainment venues and cultural institutions weather the pandemic shut-downs. Background On December 27, 2020, the President signed into law the

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