tax planning

IRS Updates Form 941 To Reflect COVID-19 Tax Credits

IRS Updates Form 941 To Reflect COVID-19 Tax Credits

The IRS has revised Form 941, Employer’s Quarterly Federal Tax Return, to accommodate COVID-19-related employment tax credits granted under the Families First Coronavirus Response Act and the Coronavirus Aid, Relief, and Economic Security Act. If you’re eligible for the credits, you can claim them on the updated Form 941. What tax credits are allowed under … Read more

What the Taxpayer First Act Means for Employers

What the Taxpayer First Act Means for Employers

According to the IRS’ website, the Taxpayer First Act of 2019 “aims to broadly redesign” the IRS by expanding and strengthening taxpayer rights and making the agency more taxpayer friendly. The legislation focuses on improving IRS information technology and making it easier for taxpayers to interact with the agency. Moreover, the act has three changes … Read more