by Paula Kennedy, EA | May 3, 2022 | Business
The IRS has begun mailing notices to businesses, financial institutions and other payers that filed certain returns with information that doesn’t match the agency’s records. These CP2100 and CP2100A notices are sent by the IRS twice a year to payers who filed...
by Paula Kennedy, EA | Jan 5, 2022 | Tax
The number of people engaged in the “gig workers” or sharing economy has grown in recent years. In an August 2021 survey, the Pew Research Center found that 16% of Americans have earned money at some time through online gig platforms. This includes providing car...
by Brian Hare, CPA, CGMA | May 11, 2021 | Business
Many businesses use independent contractors to help keep their costs down. If you’re among them, make sure that these workers are properly classified for federal tax purposes. If the IRS reclassifies them as employees, it can be a costly error. It can be complex to...
by Paula Kennedy, EA | May 11, 2021 | Tax
Before the COVID-19 pandemic hit, the number of people engaged in the “gig” or sharing economy had been growing, according to several reports. And reductions in working hours during the pandemic have caused even more people to turn to gig work to make up lost income....
by Paula Kennedy, EA | Aug 19, 2020 | COVID-19
In the COVID-19 era, many parents are hiring nannies and babysitters because their daycare centers and summer camps have closed. This may result in federal “nanny taxes” obligations. Keep in mind that the nanny tax may apply to all household workers, including...
