Tax Archives - Page 22 of 30 - HW&Co. CPAs and Advisors

IRS to Mail a Special Letter to Estimated 9 Million Non-Filers, Urging Them to Claim Economic Impact Payment by Oct. 15

The Internal Revenue Service plans to mail out letters to roughly 9 million Americans who typically don’t file federal income tax returns who may be eligible for, but have not […]

Employers Have Questions About Deferring Employees’ Social Security Taxes

By: David M. Reape

The IRS has provided guidance to employers regarding the recent presidential action to allow employers to defer the withholding, deposit and payment of certain payroll tax obligations, social security taxes. […]

CARES Act made changes to excess business losses

By: Kate Protsenko-Blake CPA

As a follow up to an article we posted earlier in the spring, the CARES Act made changes to excess business losses. This includes some changes that are retroactive and […]

Executive Order to Defer Employee’s Portion of Social Security Taxes

By: David M. Reape

On August 8, President Trump signed four executive actions, including a Presidential Memorandum to defer the employee’s portion of Social Security taxes for some people. These actions were taken in an […]

The possible tax consequences of a PPP loan

If your business was fortunate enough to get a Paycheck Protection Program (PPP) loan taken out in connection with the COVID-19 crisis, you should be aware of the potential tax […]

File cash transaction reports for your business – on paper or electronically

By: David M. Reape

Does your business receive large amounts of cash or cash equivalents? You may be required to submit forms to the IRS to report these transactions. Filing requirements Each person engaged […]

Where’s my tax refund?

With the July 15 tax deadline now past, the Internal Revenue Service reminds all taxpayers that there is no secret way to find out when your tax refund will be […]

Why do partners sometimes report more income on tax returns than they receive in cash?

By: David M. Reape

If you’re a partner in a business, you may have come across a situation that gave you pause. In a given year, you may be taxed on more partnership income […]

How taxpayers can troubleshoot common after-tax-day issues

While the deadline to file and pay federal income taxes has passed for most people, there are some taxpayers still facing tax-related issues. Here are some tips for taxpayers handling […]

Ohio Sales Tax Holiday

The state of Ohio’s sales tax holiday will be from 12:00am Friday, August 7, 2020 to Sunday August 9, 2020 11:59pm. During the holiday, the following items are exempt from […]

Even if no money changes hands, bartering is a taxable transaction

By: David M. Reape

During the COVID-19 pandemic, many small businesses are strapped for cash. They may find it beneficial to barter for goods and services instead of paying cash for them. If your […]

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