Entries by admin-wxc

67% of U.S. Businesses Still Negatively Affected by Covid

The United States Census Bureau recently released the results of their ongoing Small Business Pulse Survey. The target population of the survey is single-location businesses with less than 500 employees. The Census Bureau, which began the survey shortly after the Coronavirus pandemic began in early 2020, releases an updated survey with new results weekly. The […]

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COVID relief: IRS helps employers wanting to rehire retirees

WASHINGTON — To help address COVID-related labor shortages, the Internal Revenue Service today reminded employers that they generally will not jeopardize the tax status of their pension plans if they rehire retirees or permit distributions of retirement benefits to current employees who have reached age 59 ½ or the plan’s normal retirement age. With the […]

IRS reminds employers to e-file payroll tax returns timely

WASHINGTON — The Internal Revenue Service today reminded employers that the next quarterly payroll tax return is due November 1, 2021. The IRS urges employers to use the speed and convenience of filing the returns electronically. E-filing is the most accurate method to file returns and saves taxpayers time by performing calculations and auto-populating forms and schedules […]

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69% of Leisure Travelers to Reduce Trips Due to Delta Variant

U.S. leisure travelers plan to significantly pare back travel plans amid rising COVID-19 cases, with 69% planning to take fewer trips, 55% planning to postpone existing travel plans, and 42% likely to cancel existing plans without rescheduling, according to a new national survey conducted by Morning Consult on behalf of the American Hotel & Lodging Association (AHLA). […]

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IRS reminds business owners to correctly identify workers as employees or independent contractors

WASHINGTON — During National Small Business Week, the Internal Revenue Service reminds business owners that it’s critical to correctly determine whether the individuals providing services are employees or independent contractors. An employee is generally considered to be anyone who performs services, if the business can control what will be done and how it will be done. […]

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Treasury, IRS provide additional guidance to employers claiming the employee retention credit

WASHINGTON — The Treasury Department and the Internal Revenue Service today issued further guidance on the employee retention credit, including guidance for employers who pay qualified wages after June 30, 2021, and before January 1, 2022, and additional guidance on miscellaneous issues that apply to the employee retention credit in both 2020 and 2021. Notice 2021-49 PDF amplifies […]