Nonprofits are just coming out of the fog after implementing the new revenue recognition standards. But clear skies aren’t on the radar just yet. In September 2020, The Financial Accounting Standards Board (FASB) issued an accounting standards update (ASU) on TOPIC...
All businesses including: LLCs S Corporations C Corporations Self-Employed Owners Nonprofit Organizations are required to file their 1099 Forms by January 31, 2021 to the recipients A new Form 1099-NEC for 2020 is now to be used for nonemployee compensation. The Form...
Helping Employees with COVID-19 Expenses – Employee Tax-Free Disaster Relief Payments While we as a firm stay up-to-date on current developments, we wanted to make you aware of an opportunity for employers to provide tax-free assistance to employees. With the...
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