by RightWay | Dec 31, 2020 | Uncategorized
Accepting Transmissions – 01/02/2021 We will begin accepting live tax returns on January 2, 2021. Any returns that are transmitted prior to January 2, 2021 will be considered test returns and will be deleted from our transmission servers. Returns that are...
by RightWay | Dec 17, 2020 | IRS, Tax Law
The Coronavirus Aid, Relief, and Economic Security (CARES) Act may impact many American’s 2020 taxes. You might be asking, specifically, what are and who is affected? Well, those are the questions this article will address. 2020 Retirement Plan Distributions One of...
by RightWay | Dec 17, 2020 | IRS, Software, Tax Law
In this article we have compiled the major IRS form updates for tax year 2020. Many of these forms are specific to dealing with Covid-19 and the reemergence of an old classic (1099-NEC) New tax forms for 2020 Form 1099-NEC The 1099-NEC disappeared in the early...
by RightWay | Dec 9, 2020 | Uncategorized
IRS: Tax Tip 2020-168 Identity Protection PIN Program will soon be available to Taxpayers Nationwide IP Pins can present challenges/frustrations for both you and your client. We recommend familiarizing yourself with the options these tools present. Link to the full...
by RightWay | Nov 18, 2020 | Uncategorized
1099-NEC = NEW FORM Form 1099-NEC is used by payers to report payments of $600 or more made in the course of a trade or business to others for services. Prior to 2020, these payments were reported in box 7 on Form 1099-MISC. Payers must provide a copy of 1099-NEC to...
