by RightWay | Jan 14, 2021 | IRS
IRS COVID Tax Tip 2021-02, January 14, 2021 Millions of taxpayers will receive their second Economic Impact Payments by Debit Card Quick Summary: The Treasury Department and the IRS are issuing millions of second Economic Impact Payments by prepaid debit card...
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 | Oct 13, 2020 | IRS, Tax Law
FYI – PTIN Registration is Open! The IRS published a News Release on July 15, 2020 stating in summary: The IRS set a $21 fee per Preparer Tax Identification Number (PTIN) application or renewal (plus a $14.95 fee payable to a contractor). Anyone who prepares or...
by RightWay | Oct 9, 2020 | Business, IRS
As a tax preparer, you’re already well-versed in the tax laws that affect small business owners. This article is meant to serve as a guide to ensure you are compliant in your own business. From choosing a legal structure to collecting tax info for your employees,...
by RightWay | Aug 18, 2020 | IRS, Tax Law
IRS announces 2021 PTIN Fees for tax return preparers WASHINGTON — The Internal Revenue Service announced today the annual fee for 2021 that tax return preparers must pay to apply for or renew their Preparer Tax Identification Number (PTIN). In final...
