If you pay an individual (who is not an employee) or partnership for “services” rendered and the amount paid for the year is $600 or…
With the holiday season upon us and the end of the year approaching, we pause to give thanks for our blessings and the people in…
Form 1099-MISC is due to vendors by Jan. 31 for payments made the preceding year to non-corporate independent contractors. The IRS requires form W-9 to…
The manner in which employers communicate policies, procedures and benefit plan details to employees has a tremendous impact on how well those programs and policies…
On Nov. 6, 2020, the Departments published an interim final rule requiring Medicare, Medicaid and private insurers to cover a COVID-19 vaccine without any cost-sharing,…
The DOL final overtime rule became effective Jan. 1, 2020. Among other things, the final rule also allows employers to use nondiscretionary bonuses and incentive…
Many Employee Contribution Limits Remain Unchanged The IRS has announced the cost-of-living adjustments for 2021 that affect amounts employees can contribute to 401(k) plans and…
Maximum Monthly Amounts Remain at $270 The IRS has released Revenue Procedure 2020-45, which includes cost-of-living adjustments for employee qualified transportation fringe benefits for the 2021…
Contribution Limit to Remain the Same in 2021 The IRS has announced that the contribution limit for health flexible spending arrangements (health FSAs) will remain at $2,750 in 2021.…
Rebuild VA Grant Fund (Rebuild VA) has expanded its eligibility criteria to allow more small businesses and nonprofits to apply. Any small business or nonprofit…
Borrowers and Lenders May Rely on the Guidance Provided in the New FAQs On Oct. 13, 2020, the Small Business Administration (SBA) published a new…
2020 ACA Reporting is Due in Early 2021 The IRS has released final 2020 forms and instructions for use in early 2021 to report under…
