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Two Thirds of Small Business Fear Inflation Will Hurt Recovery

The Alignable Inflation Poll, conducted among 7,735 small business owners from 4/24/21 to 5/5/21, shows that more than two out of three small business owners (67%) are concerned that inflation will hurt their ability to recover. And 38% of small…
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Interest rates remain the same for the third quarter of 2021

WASHINGTON — The Internal Revenue Service today announced that interest rates will remain the same for the calendar quarter beginning July 1, 2021. The rates will be: 3% for overpayments (two (2) % in the case of a corporation), …
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IRS provides guidance for continuation health coverage

WASHINGTON — The Internal Revenue Service today provided guidance on tax breaks under the American Rescue Plan Act of 2021 for continuation health coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA). Notice…
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File taxes now to get refund or cut penalties and interest

WASHINGTON — The Internal Revenue Service reminds taxpayers who missed the recent tax-filing deadline who are due a refund that there is no penalty for filing late. Those who owe and missed the deadline without requesting an…
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One Third of Remote Workers Say No to Returning to Office Full Time

More companies are calling workers back to the office, but will they readily return? A new study by global staffing firm Robert Half shows that about 1 in 3 professionals (34%) currently working from home due to the pandemic would look for a…
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IRS has options for gig economy workers and those with unemployment benefits

WASHINGTON — The Internal Revenue Service reminds workers in the gig economy and those who claimed unemployment compensation in 2020 of their options and where to find information on meeting their tax obligations. Gig economy The gig economy…
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American Rescue Plan tax credits available to small employers

American Rescue Plan tax credits available to small employers to provide paid leave to employees receiving COVID-19 vaccines; new fact sheet outlines details. WASHINGTON — The Internal Revenue Service and the Treasury Department announced…
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Treasury, IRS provide guidance on tax relief for deductions for food or beverages

Treasury, IRS provide guidance on tax relief for deductions for food or beverages from restaurants Businesses can temporarily deduct 100% beginning Jan. 1, 2021 WASHINGTON – The Treasury Department and the Internal Revenue Service today…
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Tax Day for individuals extended to May 17: Treasury, IRS extend filing and payment deadline

WASHINGTON — The Treasury Department and Internal Revenue Service announced today that the federal income tax filing due date for individuals for the 2020 tax year will be automatically extended from April 15, 2021, to May 17, 2021. The IRS…